Biogen Directors Hatched Schemes to Its Detriment, Suit Says

Biogen Inc.'s board and some of its executives harmed the company by taking an “irregular” route to FDA approval of an Alzheimer’s disease treatment and illegally covering multiple sclerosis patients’ drug copays, a shareholder says in a derivative suit.

The misconduct wasted corporate assets and subjected Biogen to litigation, including a government suit that it settled for $22 million and a health insurer’s pending action to recover $2.3 billion in payments, according to the stockholder, Elaine Wang. Wang filed suit Thursday in the US District Court for the District of Massachusetts.

Biogen’s monoclonal antibody treatment for Alzheimer’s, branded as Aduhelm, ...