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Biogen Files With FDA for Approval of Alzheimer’s Therapy (2)

July 8, 2020, 2:30 PM

Biogen Inc. said it had submitted an application seeking U.S. clearance for its controversial Alzheimer’s disease therapy aducanumab, which if approved would be the first medicine available to slow the memory-wasting disease.

Shares of Biogen jumped as much as 9.9% to $294.99 in New York trading. Biogen’s stock price has been closely tied to investors’ expectations for aducanumab over the past few years.

Biogen and its Japan-based partner Eisai Co. asked for a priority review from the U.S. Food and Drug Administration, the Cambridge, Massachusetts-based company said in a statement. The agency has two months to accept or reject the ...