Shares of Biogen Inc fell nearly 10 percent on Wednesday after the U.S. government announced limited coverage of Alzheimer’s treatments including the drugmaker’s Aduhelm, dealing a blow to the controversial treatment that was approved last year.
Biogen had been banking on the government’s coverage decision to help drive up sales of Aduhelm, which it hoped would help counter the hit to revenue from some of its main drugs from rising competition.
