Biogen and partner Eisai Co. Ltd. are ending two late-stage trials for the experimental Alzheimer’s drug aducanumab, in a setback to efforts to find treatments for the disease and for Biogen’s stock, which lost more than $17 billion of its value on March 21.
Without the potential revenue from an Alzheimer’s drug, the company has poor growth prospects as it faces patent issues over its flagship Tecfidera multiple sclerosis drug and possible competition to spinal muscular atrophy drug Spinraza, Wall Street analysts said.
