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Guggenheim downgrades Biogen to neutral from buy after U.S. proposes limiting access to Alzheimer’s drug

Shares of Biogen Inc.
had been down .9% in premarket trading on Thursday after Guggenheim analysts downgraded the inventory to neutral, from invest in. Analysts there cite the have to have to hold out and see how the new rule proposing minimal accessibility to Biogen’s Alzheimer’s condition drug Aduhelm (and other medicine in the similar course of remedies) to clinical trials in get to get federal reimbursement plays out. They want to know what the measurement and timing of the trials will be and what clinical knowledge will be made for other experimental prescription drugs in this class of therapies. This consists of Eli Lilly & Co. Inc.’s
donanemab, Biogen’s lecanemab, and Roche Holding AG’s
gantenerumab. “If all those experiments don’t triumph, sentiment on the complete class could deteriorate, and it could be pretty demanding for Aduhelm (or any other AB-qualified drug) to get adoption, allow on your own payer coverage,” the Guggenheim analysts wrote. Biogen’s inventory is down 6.1% so significantly this year, though the broader S&P 500
is .8%.

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