Biogen sets out plan for development of Alzheimer's drug

Since the approval of Aduhelm in June last year, the value of Biogen shares have nearly halved.

The new drug, Lecanemab, is crucial for the growth of the drugmaker as it faces competition for several of its blockbuster drugs, including multiple sclerosis treatment Tecfidera.

Drugs giant Biogen tried to assuage investor worries by laying out a plan for its Alzheimer's disease drug being developed with Eisai and promising to draw lessons from the setbacks to its treatment Aduhelm.

The new drug, Lecanemab, is crucial for the growth of the drugmaker as it faces competition for several of its blockbuster drugs, including multiple sclerosis treatment Tecfidera.