When the Food and Drug Administration (FDA) rejects a key drug from a healthcare company, it can send the stock spiraling into a sell-off. In order for the FDA to be confident in a drug's effectiveness, it needs to have a large enough sample size to evaluate it. Unfortunately, in Eli Lilly's case, it simply didn't have enough data points for the agency to make a positive conclusion about the treatment and grant it accelerated approval.
Biogen Inc. (BIIB) closed at $285.94 in the latest trading session, marking a -1.43% move from the prior day.
TOKYO and CAMBRIDGE, Mass., Jan. 29, 2023 (GLOBE NEWSWIRE) -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, "Biogen") announced today that an application for manufacturing and marketing approval for lecanemab (generic name, U.S. brand name: LEQEMBI™), an anti-amyloid-β (Aβ) protofibril* antibody, in Japan has been designated for Priority Review by the Japanese Minis