Biogen (BIIB) has received EU approval for its rare disease drug Qalsody and purchased HI-Bio to enhance its rare disease pipeline. However, several investor alerts have been issued and numerous shareholder and class action lawsuits have been filed against Biogen, relating to accusations of securities fraud. Despite weak fundamentals underpinning its recent price movement, BIIB's stock is performing well, with a strong momentum for future growth. Additionally, acquisition of Reata Pharmaceuticals is completed. Even though Leqembi SC Autoinjector's filing started and its Aducanumab received CHMP's negative vote, it has been successful in getting CHMP nod for its SKYCLARYS therapy for Friedreich's treatment, saw earnings growth and profit beat expectations due to cost-cutting measures and uptick in Alzheimer's drug sales. Furthermore, lawsuits are pending for investors who lost money and there are certain profitability concerns caused by drug closeout costs and weak sales of Multiple Sclerosis drugs.
Biogen BIIB News Analytics from Tue, 26 Sep 2023 07:00:00 GMT to Sun, 02 Jun 2024 13:53:49 GMT -
Rating 5
- Innovation 3
- Information 5
- Rumor -2
