Senator Takes Aim at Biogen's New Alzheimer's Drug

A tweet from Sen. Ron Wyden today blasted Biogen's (NASDAQ: BIIB) decision to price its newly approved Alzheimer's drug, Aduhelm, at $56,000 per year. The Democratic senator from Oregon suggested the price is particularly unreasonable given questions regarding its efficacy, and he said Medicare should be granted the ability to negotiate prices directly with drugmakers to keep costs in check.

IMAGE SOURCE: GETTY IMAGES.

The Food and Drug Administration granted conditional approval to Aduhelm today, despite a key advisory committee recommending against approval last fall. The committee's concern stemmed from Aduhelm's inability to clearly demonstrate it can meaningfully improve cognitive function in Alzheimer's patients during clinical trials.

Source Fool.com