Biogen stock is tumbling after the organization that sets rules for Medicare recommended making being part of a medical trial a prerequisite for having its Alzheimer’s drug covered. The call was bad news for Eli Lilly stock, too.
Aduhelm, Biogen’s (ticker: BIIB) Alzheimer’s treatment, has been controversial almost from the get-go. While the drug clearly reduces amyloid plaque, which is thought to cause the disease, the trials left up for debate whether that led to an improvement in patients. The drug was approved by the Food…