25 Billion Stock Loss BIIB Stock News | Biogen Inc Securities Class Action ($BIIB) Biogen Stock
Deadline April 8, 2022, Learn More 👉 https://bit.ly/BIIB-NASDAQ 25 Billion Stock Loss BIIB Stock News | Biogen Inc Securities Class Action ($BIIB) BIIB Stock
Biogen and Biogen Stock News
The Truth Leaks Out
Insurers refusal to provide coverage for Aduhelm
Investors, did you purchase Biogen Inc, (NASDAQ: BIIB) common stock between June 7, 2021 and January 11, 2022
Defendant made false statements and/or concealed that : It failed to disclose the significant, undisclosed lobbying campaign between Biogen and the FDA that was instrumental in the decision to file and approve Aduhelm based on prior clinical data that previously deemed the drug futile.In describing using “supporting data from the Phase III ENGAGE study” Defendant Vounatsos omitted to disclose that study demonstrated that Aduhelm failed to achieve a clinical benefit to Alzheimer’s patients.
Defendant Vounatsos’s description of the data as showing that Aduhelm would “reduce the devastating clinical decline and meaningfully change the growth of Alzheimer’s disease” once again misrepresented what the data for Aduhelm actually showed; a reduction in some patients of amyloid plaques. First, Sandrock’s statement about “[f]or Medicare Fee-For-Service, coverage is automatically presumed with FDA approval” omits to provide any context or warnings of the very real – and later realized - potential of a negative coverage decision. By misleading investors as to the way in which approval was achieved, that the clinical data did not support a clinical benefit by taking Aduhelm and that side-effects were dangerous and serious, Sandrock and Defendants misled investors as to the likelihood that Medicare would cover Aduhelm.
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Biogen and Biogen Stock News
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