Pomerantz LLP is investigating claims on behalf of investors of Biogen Inc.. Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Biogen and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 11, 2022, post-market, the Center for Medicare and Medicaid Services (“CMMS”) announced its draft decision on reimbursement for Aduhelm, Biogen’s proposed treatment for Alzheimer’s disease. CMMS proposed to cover reimbursement under “Coverage with Evidence Development,” limiting reimbursement only to patients enrolled in a clinical trial. Additionally, it limited those patients eligible as those with mild forms of cognitive impairment or mild dementia and those patients who already have amyloid plaques. Further, CMMS proposed limiting reimbursement to clinical trials in a hospital-based outpatient setting. CMMS’s reimbursement decision functionally amounted to agreeing to reimburse Biogen for running a new clinical trial, all but destroying the value of Aduhelm as an approved drug.
On this news, Biogen’s stock price fell $16.18 per share, or 6.7%, to close at $225.34 per share on January 11, 2022.
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Robert S. Willoughby
888-476-6529 ext. 7980