Investor confidence in Biogen (BIIB) is rattled following reports of a study participant's death who was administered its Alzheimer's disease (AD) antibody in clinical studies.
Just weeks ago at the company’s headquarters, Haruo Naito, the 74-year-old chief executive of Japan’s Eisai, was feeling vindicated after almost four decades of trying to develop an Alzheimer’s drug. Ahead of the release of detailed information on Eisai’s new drug lecanemab, developed with Biogen, the company’s share price surged 60 per cent after results of a late-stage clinical trial showed that it slowed the progression rate of the memory-degenerating disease. Initial results published by Eisai in September raised hopes of a new treatment for a disease that pharmaceutical companies have spent billions of dollars over several decades researching, only to be disappointed by repeated failures.
(Bloomberg) -- Eisai Co shares fell the most in about 16 months following a report of a second death potentially linked to the groundbreaking experimental drug for Alzheimer’s disease it’s developing with Biogen Inc.Most Read from BloombergApple to Lose 6 Million iPhone Pros From Tumult at China PlantNext Covid-19 Strain May be More Dangerous, Lab Study ShowsMusk Threatens War With Apple, Jeopardizing Vital RelationshipStocks Hit by Fedspeak as China Woes Boost Havens: Markets WrapThe case invol