Biogen to Spend $2.5 Billion Before Alzheimer’s Drug Results

Biogen Inc. will need to invest $2.5 billion in its experimental Alzheimer’s treatment before knowing whether it’s even effective, Chief Executive Officer George Scangos said.

“It’s probably a $2.5 billion investment to make,” Scangos said at the World Medical Innovation Forum in Boston on Monday. “It’s certainly promising and encouraging, it’s generated some excitement, rightfully so, but we still have to prove it works.”