Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Biogen Inc.    BIIB

BIOGEN INC.

(BIIB)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Biogen : plunges 30% after FDA panel votes against Alzheimer's drug

11/09/2020 | 08:21am EST
FILE PHOTO: A sign marks a Biogen facility in Cambridge

(Reuters) - Biogen Inc's shares slumped about 30% on Monday as the drugmaker's chances of getting a regulatory approval for its experiment Alzheimer's treatment suffered a blow after a panel of experts to the U.S. Food and Drug Administration voted against the medicine.

Wall Street analysts largely believe the panel's near-unanimous votes against the drug, aducanumab, make it difficult for the FDA to go against the panel.

"Approving aducanumab, in the face of such an overwhelmingly negative vote and commentary, is virtually impossible and would destroy the agency's reputation at a very tenuous time for the regulator, ahead of potential actions on COVID vaccines," Baird analyst Brian Skorney said.

The panel on Friday voted "no" to three questions related to whether a single successful large trial of the drug was enough evidence of its effectiveness, given the failure of a second large study.

The FDA is expected to make its decision on aducanumab by March and is not obligated to follow the recommendations of the panel, but usually does.

It is uncommon for the FDA to act against the committee, Jefferies analyst Michael Yee said, adding that it happens less than 20% of the time.

Bowing to pressure from patient advocates, the agency in 2016 approved a treatment for Duchenne muscular dystrophy from Sarepta Therapeutics Inc, even though an outside panel
of experts and the agency's own reviewers questioned the drug's efficacy. (https://reut.rs/2IaXM17)

"The FDA can do what it wants," Stifel analyst Paul Matteis said, adding that the vote against Sarepta's Exondys 51 was obviously better than the 0-10-1 against aducanumab.

If approved, aducanumab would become the first new treatment for Alzheimer's in decades and the first that appears to be able to slow progression of the fatal, mind-wasting condition, potentially bringing in billions of dollars in sales for Biogen.

(Reporting by Manas Mishra and Manojna Maddipatla in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BIOGEN INC. -0.73% 273.84 Delayed Quote.11.84%
SAREPTA THERAPEUTICS, INC. 7.17% 96.8 Delayed Quote.-43.22%
All news about BIOGEN INC.
01/19BIOGEN : Morgan Stanley Adjusts Biogen PT to $352 From $357, Maintains Overweigh..
MT
01/14BIOGEN : Aducanumab data review and Q&A with Alzheimer's Disease International
PU
01/13BIOGEN : to Report Fourth Quarter and Full Year 2020 Financial Results February ..
PU
01/13DENALI THERAPEUTICS : Strategic Outlook, Upcoming Data for DNL310 Warrant Price ..
MT
01/13BIOGEN : A statement about Biogen Political Action Committee
PU
01/12DEADLINE TODAY : The Schall Law Firm Announces the Filing of a Class Action Laws..
PR
01/11EISAI : Lilly Alzheimer's drug slows mental, functional decline in mid-stage tri..
RE
01/11ELI LILLY AND : Lilly Alzheimer's Drug Helped Patients in Small Trial -- Update
DJ
01/11BIOGEN : Announces First Patient Treated in RESPOND Study Evaluating Benefit of ..
AQ
01/11BIOGEN : to Participate in Webinar with Alzheimer's disease International on Jan..
AQ
More news
Financials (USD)
Sales 2020 13 390 M - -
Net income 2020 4 274 M - -
Net Debt 2020 2 814 M - -
P/E ratio 2020 10,3x
Yield 2020 -
Capitalization 42 139 M 42 139 M -
EV / Sales 2020 3,36x
EV / Sales 2021 3,73x
Nbr of Employees 7 400
Free-Float 86,1%
Chart BIOGEN INC.
Duration : Period :
Biogen Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BIOGEN INC.
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 33
Average target price 292,32 $
Last Close Price 273,84 $
Spread / Highest target 64,3%
Spread / Average Target 6,75%
Spread / Lowest Target -36,1%
EPS Revisions
Managers and Directors
NameTitle
Michel Vounatsos Chief Executive Officer & Director
Stelios B. Papadopoulos Chairman
Michael R. McDonnell Chief Financial Officer & Executive Vice President
Alfred W. Sandrock Chief Medical Officer & EVP-Research & Development
Mark Hernon Chief Information Officer & Senior Vice President
Sector and Competitors
1st jan.Capitalization (M$)
BIOGEN INC.11.84%42 139
CSL LIMITED-4.25%94 930
SAMSUNG BIOLOGICS CO.,LTD.-3.63%47 755
ALEXION PHARMACEUTICALS, INC.0.29%34 733
CHONGQING ZHIFEI BIOLOGICAL PRODUCTS CO.,LTD.-10.55%32 676
UCB2.23%19 778