Biogen stops clinical trial tracking Aduhelm

Biogen Inc. BIIB, +0.26% said in a statement that it stopped a post-marketing clinical trial testing its Alzheimer’s disease therapy Aduhelm, citing a Medicare policy that will limit usage of the drug. The company updated the study’s ClinicalTrials.gov listing with this information on Tuesday. The prospective, multi-center study planned to track patients taking Aduhelm for five years. The Food and Drug Administration approved Aduhelm a year ago, but the Centers for Medicare and Medicaid Services later said it will cover Adhulm only if patients are enrolled in a clinical trial. Biogen still plans to move forward with a Phase 4 clinical trial for Aduhelm called Envision. The company’s stock is down 11.9% this year, while the broader S&P 500 SPX, +3.06% has declined 20.3%.