Biogen Dodges Investor Suit on Failed Alzheimer’s Drug Rollout

Biogen Inc. and three current and former top executives won dismissal of a pension fund’s allegations that they intentionally manipulated share prices by misrepresenting the market-readiness and efficacy of Aduhelm, the company’s ballyhooed Alzheimer’s drug that went bust.

Biogen’s stock soared more than $100 a share in July 2021 when US drug regulators gave fast-track approval to Aduhelm for treating all stages of Alzheimer’s and the company priced a year’s treatment at $56,000 per patient. But company shares gave back all those gains by January 2022, after further testing failed to show marked improvement among patients, who faced significant side ...