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Biogen Shares Are Trading Lower As Cleveland Clinic, Mount Sinai Decline To Aduhelm Administration

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  • A pair of large hospitals have declined to administer Biogen Inc’s (NASDAQ: BIIB) Alzheimer’s treatment Aduhelm, Wall Street Journal reported.

  • The Cleveland Clinic and Mount Sinai Health System in New York said they wouldn’t administer the drug to patients amid a debate about the drug’s effectiveness and whether the FDA followed missteps in approving the treatment.

  • The Cleveland Clinic won’t carry the drug in its pharmacy or provide infusions. However, the doctors can still prescribe the medicine, and patients will have to receive their infusions at an outside facility.

  • Aduhelm is given a monthly infusion at an outpatient medical center.

  • Biogen priced the drug at $56,000 a year, though one health researcher said it would probably cost more for a typical patient.

  • A Biogen spokeswoman said that patients denied access to Aduhelm should contact Biogen for help.

  • Price Action: BIIB shares are down 6.90% at $327.76 during the market session on the last check Thursday.

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