Biogen stock plummets after it abandons Alzheimer ’s drug

At the opening bell, Biogen Inc. lost more than $16 billion in market value after disclosing it would scrap its most advanced Alzheimer's disease drug candidate. Cambridge-based Biogen (Nasdaq: BIIB) and its development partner, Eisai Co. Ltd., are discontinuing two Phase 3 trials of their lead drug, aducanumab, after a so-called "futility analysis" indicated the trials were unlikely to be succeed, according to an early morning press release. Together with Eisai, Biogen had begun two Phase 3 trials…
Source: bizjournals.com Health Care News Headlines - Category: Health Management Authors: Source Type: news