Biogen Slips as Roche Spikes Alzheimer's Trials on Weak Data
- Investors weigh impact from Roche’s failure to Biogen’s drug
- Drugs are meaningfully different from each other, analysts say
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Shares of Biogen Inc. came under pressure in trading before the U.S. market opened Wednesday after peer Roche Holding AG halted a pair of studies in Alzheimer’s disease as early data hinted that its drug wasn’t working.
The news is another blow for drugmakers studying treatments of the disease and prompted investors to weigh the impact Roche’s failure will have on late-stage tests of Biogen’s closely watched treatment, aducanumab. Cantor Fitzgerald analyst Alethia Young wrote that the read-across to aducanumab is limited, however both medicines belong to the same class of drugs.