European Experts say NO to Aduhelm

Crushed

Nov 17 (Reuters) - A European Medicines Agency panel voted against approval of Biogen Inc's (BIIB.O) Alzheimer's drug Aduhelm, in another blow to prospects for a treatment already grappling with a slow rollout in the United States.

Shares of Cambridge, Massachusetts-based Biogen, which announced the negative vote on Wednesday, fell $3.17, or 1.2%, to close at $258.38. The company's shares have dropped about 37% since Aduhelm was approved by the U.S. Food and Drug Administration in early June.

The panel recommendation will be taken into consideration by the EMA, which is not bound to follow, but usually does.

"Given the existing data and controversy attached to the drug, we see no reason why there would be a divergence (in EMA's decision)," said Wedbush analyst Laura Chico.

Loss of European sales would effectively wipe away 40% of potential future Aduhelm revenue, RBC Capital Markets analyst Brian Abrahams said in a research note.

jfkoc

Interesting. The world does not always think the same.

Lane Simonian

The right decision.

French

Perhaps our médecines agency is more independent. We had so many scandals here in the past years about drugs that should have been stopped.  I hope it is a good signal.

SSHarkey

Our neurologist warned us about it just before the big news hit the media. He explained the entire fiasco and set out minds at rest that it wasn’t something we needed to consider.