Why 2023 Could Be a Big Year for Biogen
Biogen (NASDAQ: BIIB) is a business that generates more than $10 billion in revenue each year, with its multiple sclerosis treatments bringing in the bulk of its sales.
But the way the stock trades, it resembles more of a risky biotech than an established business. That's because these days the stock lives and dies by the success of its Alzheimer's treatments. With the company's sales declining in recent years, Biogen needs a catalyst to turn things around and help inject some bullishness behind the business, and having an effective treatment for Alzheimer's could play a huge role in that objective.
Next year could prove to be a pivotal one for Biogen as investors can finally get some much-needed answers about whether lecanemab, a promising Alzheimer's treatment, could be the game changer the healthcare company is hoping that it will be for the business.
Source Fool.com
