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Citi Surprised, Confused Amid Report Biogen May Divest Hemophilia Unit

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Reuters reported on Friday that Biogen Inc BIIB is exploring the sale of its hemophilia business. Citi’s Robyn Karnauskas maintained a Buy rating for the company, with a price target of $345, saying that the news is both “surprising and confusing,” since previously the company had indicated it would use cash for M&A.