A sad day for Alzheimer’s patients spilled over into the stock market as well. Biogen announced Thursday morning it will discontinue late-stage clinical trials for its closely watched experimental Alzheimer’s disease treatment aducanumab. The illness has proven notoriously difficult to treat, yet investors still were caught off guard: Biogen shares plunged about 25% in early trading on Thursday. Biogen...
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 .