Expert Panel Unanimously Decides Biogen's (BIIB) Aduhelm Offers no Patient Benefit
(Updated - July 15, 2021 6:00 PM EDT)
Shares of Biogen (NASDAQ: BIIB) are losing 3% after-hours following a unanimous vote by a panel of prominent medical experts claiming the company's recently approved Alzheimer's drug Aduhelm offers no patient benefit.
In a recent meeting held by the non-profit Institute of Clinical and Economic Review, a panel of experts reviewing both clinical and cost effectiveness of the drug voted 15-to-0 that there is no evidence of any health benefits beyond the usual care, STAT News reported.
Sarah Kremen, head Center for Alzheimer’s and Memory Disorders at Cedars-Sinai Medical Center, who has been an investigator in one of Aduhelm's trial was quoted saying: "There may be some small number of people who will benefit, but it’s hard to know from the study who that will be."
The expert session's vote is the latest in a series of activist critique of the drug itself, as well as of the FDA's review and approval processes.
Earlier today, a prominent Cleveland hospital decided against administering Aduhelm to its patients, citing safety and efficacy data - a move, which may soon be followed by other healthcare providers, according to a Mizuho analyst Salim Syed.
Shares of Biogen fell 6.8% intra-day on the Cleveland Clinic news.
Written by Vlad Schepkov | [email protected]