Biogen shares surged some 37% in afternoon trading!
That happened after the company said its experimental Alzheimer’s drug had significantly slowed the disease’s progression in a large study, Biogen reports
Tweet on the latest alzheimer’s drug by Biogen
— Biogen (@biogen) September 28, 2022
Stock in its partner in the study, Japanese pharmaceutical firm Eisai, jumped in Tokyo trading
Shares in some other drugmakers also surged, with Eli Lilly adding about 8% and the U.S.-listed shares of Roche Holding adding nearly 7%.
- Biogen was by far the best performer on the S&P 500.
- An estimated six million people in the U.S. suffer from Alzheimer’s.
Currently available treatments can help temporarily alleviate some symptoms, but none affect the overall course of disease.