Biogen and Alkermes entered a global license and collaboration agreement to develop and commercialize ALKS 8700, a novel oral monomethyl fumarate (MMF) small drug molecule in Phase 3 development for the treatment of relapsing forms of multiple sclerosis (MS). Biogen will receive an exclusive, worldwide license to commercialize the product and will pay Alkermes a mid-teens royalty on worldwide net sales of ALKS 8700.