Biogen Stung as U.S. Limits Coverage of Alzheimer’s Therapy
- Only patients in clinical trials will have drug’s cost covered
- Controversial treatment was approved for use by FDA last year
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The U.S. government limited Medicare coverage of Biogen Inc.’s Alzheimer’s disease treatment and similar drugs to patients enrolled in clinical trials, a highly unusual move that will curb access to the controversial treatment approved last year.
Coverage of Biogen’s therapy, sold under the brand name Aduhelm, and other amyloid-targeted Alzheimer’s therapies, will be limited to people participating in qualified clinical trials, the Centers for Medicare & Medicaid Services said Tuesday in a statement. The shares fell 10% Wednesday before U.S. markets opened and have lost almost 40% since the drug’s June 7 approval.