Biogen will cease late - stage clinical trials of aducanumab , its experimental Alzheimer ’s disease drug . Around $ 3bn in aducanumab sales were predicted for 2023 . The news comes as the company faces a legal challenge to its multiple sclerosis treatment , Tecfidera , as well as stiff competition in its biggest - selling disease drug . Biogen shares plunged about 25% in early trading on Thursday. Biogen ’s urgent need to generate growth may be good news for the pharma sector , as the company may need to invest in biotech acquisitions to populate its pipeline .
Biogen will cease late - stage clinical trials of aducanumab , its experimental Alzheimer ’s disease drug . Around $ 3bn in aducanumab sales were predicted for 2023 . The news comes as the company faces a legal challenge to its multiple sclerosis treatment , Tecfidera , as well as stiff competition in its biggest - selling disease drug . Biogen ’s urgent need to generate growth may be good news for the pharma sector , as the company may need to invest in biotech acquisitions to populate its pipeline .