Akebia is a lot like other small biotech companies with quality management teams executing well but ignored by investors for reasons that don't really make much sense fundamentally.
Investors focus on a drug's efficacy and safety. Much less time is spent considering the importance of manufacturing, even though it is a vital step in the drug approval process.
The new licensing deal between Akebia and Otsuka expands upon a pact made last December for U.S. commercial rights.
Biogen adjusted profit rose in the first quarter on a small increase in total revenue. Sales of the biotech company's multiple sclerosis drugs remain flat.