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Biogen falls after Alzheimer’s drug approval. What the pros are saying
Market Movers rounded up the best reactions from investors and analysts on Biogen . The experts discussed the biotech company after the Food and Drug Administration approved its Alzheimer’s treatment Leqembi , paving the way for broader Medicare coverage. The drug slowed cognitive decline in trials, but poses risks of brain swelling and bleeding and comes with a $26,500 per year price tag. Biogen collaborated with Japanese pharmaceutical company Eisai to make Leqembi. Despite the approval, Biogen shares slid more than 3% by Friday’s market close and are down nearly 10% over the past month.
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