Why Biogen (BIIB) Stock Is Gaining Today - Eisai Co (OTC:ESALF), Biogen (NASDAQ:BIIB)

The FDA has approved Biogen Inc's BIIB second Alzheimer's disease treatment, Leqembi (lecanemab-irmb) via the Accelerated Approval pathway.
Leqembi is the second of a new category of medications approved for Alzheimer's disease that target the fundamental pathophysiology of the disease.
Eisai Co Limited ESALY-partnered lecanemab reduced clinical decline on the global cognitive and functional scale by 27% at 18 months, relative to the placebo, the trial's primary endpoint.
In June 2021, Biogen's Aduhelm (aducanumab) became the first Alzheimer's treatment approved since 2003.
Though the treatment remained in the controversial zone as it received FDA approval despite the adcomm giving a thumbs down. The company also slashed the price by half a year ago.
Lecanemab has, too, witnessed safety concerns. Three deaths have been associated with the treatment.
The labeling states that Leqembi should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was studied in clinical trials.
The labeling also states that there are no safety or effectiveness data on initiating treatment at earlier or later stages of the disease than were studied.
Investors also are waiting to see how the Centers for Medicare and Medicaid Services handles Lecanemab, as medicare declined to broadly cover aducanumab, saying the cognitive benefits were unclear.
Price Action: BIIB shares were up 3.57% at $281.28 on the last check Friday before trading halted.

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FDA Approves Biogen's Second Alzheimer's Treatment Under Accelerated Pathway