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Biogen Up Sharply On Promising Alzheimer's Results

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Shares of Biogen Idec Inc (NASDAQ: BIIB) were moving sharply higher Tuesday morning following news that its Alzheimer's drug showed promising results and the company said it would proceed with a late-stage trial.

The drug, BIIB037, reduces beta amyloid in the brain, a key contributor to plaque that factors into Alzheimer's disease. The announcement came at the Deutsche Bank BioFEST conference.

Meg Tirrell of CNBC tweeted several highlights:

Shares of Biogen were trading up 6.1 percent at $327.38.

Posted-In: News Health Care General

 

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