Biogen stock falls after US FDA calls for investigation into Alzheimer’s drug approval

Source: CNBC

“Biogen shares fell on Friday after the head of the Food and Drug Administration called for an investigation into the recent approval of the company’s Alzheimer’s drug, Aduhelm. Acting FDA Commissioner Dr. Janet Woodcock asked the Office of the Inspector General to investigate interactions between the U.S. agency and Biogen representatives prior to the drug’s approval on June 7. … Biogen’s stock surged last month after the FDA approved the biotech company’s drug, the first medication cleared by U.S. regulators to slow cognitive decline in people living with Alzheimer’s and the first new medicine for the disease in nearly two decades. That decision marked a departure from the advice of the agency’s independent panel of outside experts, who unexpectedly declined to endorse the drug last fall, citing unconvincing data. At least three members of the panel have resigned in protest following the agency’s approval.” (07/09/21)

https://www.cnbc.com/2021/07/09/biogen-alzheimers-drug-fda-calls-for-federal-investigation-into-approval.html