Biogen's Costly Alzheimer's Treatment May Face Restricted Medicare Access: WSJ - Biogen (NASDAQ:BIIB)

The recent approval of Biogen Inc's BIIB high-price Alzheimer's drug is raising questions about who will have access to the $56,000/year treatment that could cost Medicare billions of dollars in coming years.
Medicare typically pays unconditionally for approved medicines, but to limit the financial hit from Aduhelm, however, Medicare could restrict access, the Wall Street Journal reported.
Wall Street analysts estimate it could eventually surpass $5 billion in yearly sales, mostly paid by Medicare.
"Medicare can't afford to treat this as business as usual," said Andy Slavitt, a former Medicare acting administrator and Biden administration senior adviser.
Meanwhile, Biogen said it wants to limit who gets Aduhelm to Alzheimer's patients in the early stage of the disease with mild symptoms.
Also, the House Committee on Oversight and Reform announced Friday that it would launch an investigation into the Alzheimer's drug's hotly debated FDA approval and pricing.
The lawmakers plan to determine what led to the FDA's accelerated approval and Aduhelm's wide label through the investigation.
RBC Capital also maintained its sector performance rating and lowered its price target from $400 to $354.
Price Action: BIIB shares are down 2.48% at $339.32 during the market session on the last check Monday.