FDA green light on Alzheimer’s treatment drives the health sector up
Yesterday the Food and Drug Administration gave the green light to Biogen’s (NASDAQ: BIIB) controversial Alzheimer’s disease drug aducanumab.
Biotech Biogen’s partner is Eisai (OTC: ESALY) is enjoying a bull run along with the news with the Japanese Biopharma shares rising more than BIIB at about 56%. At the closing bell Biogen shares closed 38% higher after a strong 64% increase during the trading session. This was the biggest single day gain since drug official said that the treatment appeared effective in November 2020.
- Yesterday the Food and Drug Administration gave the green light to Biogen’s (NASDAQ: BIIB) controversial Alzheimer’s disease drug aducanumab.
- Aducanumab, which will be sold under the brand name Aduhelm, is the first Alzheimer’s drug to be approved and is slowing down the progression of the disease.
- Biotech Biogen’s partner is Eisai (OTC: ESALY) is enjoying a bull run along with the news with the Japanese Biopharma shares rising more than BIIB at about 56%.
About Biogen’s Alzheimer drug
US regulators have approved the first new treatment for Alzheimer’s disease in almost two decades, despite a rancorous scientific debate over whether the medicine works.
Currently, there are 35 million people suffering from the brain illness worldwide therefore, the importance of the drug treatment is high. The aducanumab, an intravenous infusion will cost $56,000 for a yearly course.
Aducanumab, which will be sold under the brand name Aduhelm, is the first Alzheimer’s drug to be approved and is slowing down the progression of the disease. The medicine breaks up clumps of amyloid plaques that form in the brain, which some scientists believe cause the illness.
“This historic moment is the culmination of more than a decade of groundbreaking research in the complex field of Alzheimer’s disease. We believe this first-in-class medicine will transform the treatment of people living with Alzheimer’s disease and spark continuous innovation in the years to come,” said Michel Vounatsos, Chief Executive Officer at Biogen. “We are grateful for the contributions of thousands of patients and caregivers who participated in our clinical trials, as well as for the dedication of our scientists and researchers. Together with the healthcare community, we are ready to bring this new medicine to patients and begin to address this growing global health crisis.”
“Eisai has been working on the creation of new treatments for Alzheimer’s disease since the early 80s through our relentless pursuit to understand the root causes of this disease, and we have spent more than a quarter of a century with people living with Alzheimer’s disease to understand their needs,” said Haruo Naito, Chief Executive Officer at Eisai. “We are very pleased to be able to open a new chapter in the history of Alzheimer’s disease treatment with the approval of ADUHELM. This approval has the potential to bring hope to the future of global health, society and, most importantly, the patients and their families, and represents a great step toward the advancement of holistic ecosystem solutions for this devastating disease.”
The efficiency of the drug was tested in three Phases in patients of the early stages of Alzheimer’s and with amyloid pathology. In these studies, ADUHELM consistently showed a dose- and time-dependent effect on the lowering of amyloid beta plaques (by 59 percent [p<0.0001] in ENGAGE, 71 percent [p<0.0001] in EMERGE, and 61 percent [p<0.0001] in PRIME).
The next step has Biogen conducting a controlled trial to verify the clinical benefits of ADUHELM in patients with Alzheimer’s disease.
“Today’s approval of ADUHELM is a transformational breakthrough in the fight to stop this horrible disease. After years of disappointment and despair, this decision offers new hope for many families and a trigger for future investment and innovation,” said George Vradenburg, Chairman and Co-Founder of UsAgainstAlzheimer’s. “Because ADUHELM was studied in people with early-stage Alzheimer’s disease, it will be important for our nation’s healthcare system—patients, providers and payers—to be ready for earlier detection, diagnosis and intervention in the treatment of the disease.”
Biogen (NASDAQ: BIIB) discovers, developers, research and delivers innovative therapies for people around the world facing a serious neurological and neurodegenerative disease. The company was founded in 1978 by Charles Weissmann, Heinz Schaller, Kenneth Murray and Nobel Prize winners Walter Gilbert and Phillip Sharp. Based in Cambridge, Massachusetts, U.S. the company has merged with IDEC Pharmaceuticals and became the third largest biotechnology company in the world, in 2003. Ever since then Biogen has been acquiring cancer specialists, Pharmaceuticals and Therapeutics.
Eisai Co., Ltd. Is based in Japan and is a leading global pharmaceutical company. The company operates the human health care system which means, it prioritizes the patients and families and aims to increase that health care to them. Leveraging the experience gained from the development and marketing of a treatment for Alzheimer’s disease, Eisai aims to establish the “Eisai Dementia Platform.” Through this platform, Eisai plans to deliver novel benefits to those living with dementia and their families through constructing a “Dementia Ecosystem,” by collaborating with partners such as medical organizations, diagnostic development companies, research organizations, and bio-ventures in addition to private insurance agencies, finance industries, fitness clubs, automobile makers, retailers, and care facilities.
Stocks related to the health sector are also enjoying the bull run with Bionano Genomics (NASDAQ: BNGO) 25%, Oramed Pharmaceuticals (NASDAQ: ORMD) 13%, Moderna Inc (NASDAQ: MRNA) 6.5%, Clover (NASDAQ: CLOV) 40%, Atossa Therapeutics Inc (NASDAQ: ATOS) 9%, Aytu Bioscience (NASDAQ: AYTU) 37%
Disclaimer – I/we have no position in any stock mentioned. I wrote this article myself, and it expresses my personal opinions. I am not receiving any compensation for it, other than FDGT Academy. I do not have or had in the past any business relationship with any company that is mentioned in the above article.
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