Biogen facing civil demand from FTC, inquiry from SEC about Alzheimer’s drug

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Shares of Biogen Inc. BIIB, +0.62% tumbled 2.2% in premarket trading on Friday after the company disclosed in a securities filing that it received a civil investigative demand from the Federal Trade Commission and an inquiry from the Securities and Exchange Commission in relation to Aduhelm, its new Alzheimer’s disease drug. The SEC inquiry is requesting information about the sites that administer the drug, the regulatory approval, and Biogen’s marketing for the therapy, the company said. The Food and Drug Administration approved the controversial drug in June of last year; it’s been criticized for several reasons, including how it was priced and the clinical data used to inform the approval process. The drug generated a total of $3 million in revenue in 2021. Biogen’s stock is down 17.6% for the past year. The S&P 500 SPX, +0.52% is up 17.9%.

This article was originally published by Marketwatch.com. Read the original article here.

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