Following Its Major Regulatory Win, How Much Upside Does Biogen Have?
Good things come to those who wait, or so the adage goes. Biotech giant Biogen (NASDAQ: BIIB) can certainly testify to the truth of this piece of wisdom. After a long and arduous journey, the company recently received approval for its Alzheimer's disease (AD) drug aducanumab from the U.S. Food and Drug Administration (FDA); the medicine will be marketed as Aduhelm.
The regulatory agency went against the wishes of an independent panel that strongly opposed the approval of this drug back in November 2020. The controversial decision will likely continue generating tons of headlines, but with this major win under its belt, how much upside can Biogen's shareholders expect?
There are several reasons why the approval of Aduhelm was a big deal. For one, Biogen actually discontinued the development of this drug back in 2019 after a futility analysis conducted by an independent committee concluded that the drug would likely not meet its primary endpoint in a pair of phase 3 clinical trials.
Source Fool.com
