U.S. FDA approves Biogen Alzheimer’s drug, shares soar

2 months ago | Politics | 0 comments

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Reuters

By Deena Beasley and Julie Steenhuysen (Reuters) – U.S. regulators on Monday approved Biogen Inc’s aducanumab as the first treatment to attack a likely cause of Alzheimer’s disease, sending its shares soaring, despite controversy over whether the clinical evidence proves the drug works. Biogen said it has priced the drug, to be sold as Aduhelm, at $56,000 per year. Its shares jumped nearly 52% to $434.52 when trading resumed following the approval. U.S. traded shares of partner Eisai Co were already up $33.50, or 45%, to $107.75 Aducanumab aims to remove sticky deposits of a protein called amy…

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