Biogen tumbles after Medicare lays out Aduhelm coverage plan
ABC News
Shares of Biogen tumbled Wednesday, a day after regulators slapped strict limitations on coverage the drugmaker’s new Alzheimer’s disease treatment
Shares of Biogen slid Wednesday, a day after federal regulators slapped coverage limitations on the drugmaker’s new Alzheimer’s disease treatment.
The Centers for Medicare and Medicaid Services said Tuesday after markets closed that patients taking Biogen’s Aduhelm will have to also participate in clinical trials to assess the drug’s effectiveness in order for Medicare to cover the cost.
That’s an important caveat because Medicare is expected to cover most of the patients who opt for Aduhelm, and the drug can cost as much as $28,000 annually, not counting expenses for brain scans and other care patients will need while taking it.
Biogen had cut that cost down from more than $50,000 annually last month after taking months of criticism over the expense.
