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Your Weekend Reading: The FDA, Biogen and the Failure of U.S. Healthcare

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Biogen’s Alzheimer’s drug Aduhelm

Biogen’s Alzheimer’s drug Aduhelm

Source: Biogen/AP

The U.S. Food and Drug Administration’s landmark decision to approve Biogen’s Alzheimer’s treatment, the first new drug for the disease in almost 20 years, could open the door for more therapies. But three FDA advisory panel members have quit in protest, with one saying it was “probably the worst drug approval decision in recent U.S. history.” Indeed, a look at the findings of an advisory panel in November appear to make this week’s decision hard to justify. Nevertheless, investors sent Biogen’s shares soaring while Democratic lawmakers criticized the drug’s $56,000-a-year price tag. The furor highlights, yet again, the failures at the heart of the U.S. system of healthcare, Bloomberg’s Editorial Board writes.

Inflation is running hot in the U.S. as companies pass on higher raw- material prices. In New York City, rising fares on Uber and Lyft boosted demand for yellow cabs. Real estate prices are soaring—but it’s not a bubble.