Biogen Tanks, Drags Down Biotechnology Sector ETFs | Page 2 of 2 | ETF Trends

“This disappointing news confirms the complexity of treating Alzheimer’s disease and the need to further advance knowledge in neuroscience,” Biogen Chief Executive Michel Vounatsos said.

The proposed aducanumab drug targeted the sticky tangles with the aim of slowing or stopping Alzheimer’s, but drugs that have focused on this process have so far failed.

The failure of the studies for aducanumab “should be the final nail in the coffin” for the hypothesis, Baird analyst Brian Skorney said in a research note titled, “The Death of Beta Amyloid—Where Do We Go Now?”

Other prominent drugmakers have already stepped away from Alzheimer’s research due to the prominent failures. For example, Pfizer Inc. said last year that it would stop its developments in Alzheimer’s and Parkinson’s disease drugs and lay off 300 employees working on the research.

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