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Biogen Surges After Positive Results in Alzheimer’s Trial

  • Stock jumps 23 percent, most since 2011, on positive data
  • Ultimate outcome remains uncertain, but rare bright spot
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Biogen Soars as Surprise Alzheimer's Trial Results Fuel Hope
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Biogen Inc. surged the most in seven years after an Alzheimer’s drug showed positive results in a large clinical trial, raising hopes for treatment of a disease that has befuddled researchers for decades.

Alzheimer’s progressed more slowly for patients who got the highest dose of the experimental drug, BAN2401, Biogen and its Japanese partner Eisai Co. said in a statement. The results after 18 months of treatment took investors by surprise, following a failure in December after 12 months.