Expanded Medicare Coverage For Biogen-Eisai's Leqembi Signals a Turning Point in Alzheimer's Treatment: Analysts
Portfolio Pulse from Vandana Singh
The FDA has approved a supplemental marketing application for Biogen Inc (NASDAQ:BIIB) and Eisai Co Ltd's (OTC:ESALY) Leqembi, the first approved treatment shown to reduce the rate of disease progression in adults with Alzheimer's disease. Concurrently, CMS confirmed broader Medicare coverage for Leqembi. Analysts from William Blair, Raymond James, Oppenheimer, and Needham provided their perspectives on the development, with a general consensus that the approval and expanded coverage may not significantly change the outlook for Leqembi.
July 07, 2023 | 5:25 pm
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NEUTRAL IMPACT
The FDA approval and expanded Medicare coverage for Biogen's Leqembi may not significantly change the company's outlook, according to analysts.
While the FDA approval and expanded Medicare coverage for Leqembi are positive developments, analysts believe these may not significantly change the outlook for Biogen. The company's shares are down 2.72% at $277.75 on the last check Friday.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
The FDA approval and expanded Medicare coverage for Eisai's Leqembi may not significantly change the company's outlook, according to analysts.
While the FDA approval and expanded Medicare coverage for Leqembi are positive developments, analysts believe these may not significantly change the outlook for Eisai.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100