Biogen shares plunge after Alzheimer’s drug setback
Biotech giant halts late-stage trials as results disappoint
Shares in Biogen plummeted yesterday after the biotechnology giant said that its experimental Alzheimer’s drug was unlikely to be effective and that it was halting its research, in another setback to efforts to find a therapy for the neurodegenerative ailment.
Shares dropped by as much as 29 per cent in heavy trading, knocking about $18 billion off the company’s market value and marking its biggest intraday stock drop since 2008.
The US-based company said...
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