ESALF - Biogen's FDA review extension: 'a positive for Lilly's Alzheimer perception - MS

Morgan Stanley sees the decision by the FDA to extend the review period for aducanumab as a positive for ‘LLY Alzheimer's perception.’Today Biogen ([[BIIB]] +5.6%) and Eisai's ([[ESALF]]) said that the FDA has extended the review period by three months for Biologics License Application filed for aducanumab, an experimental therapy for Alzheimer’s disease.In early January, Eli Lilly ([[LLY]] -2.0%) announced that its investigational therapy for the indication, donanemab showed promising results in a Phase 2 trial.The delay for the FDA action data for aducanumab suggests that the regulator is ‘looking for additional supportive evidence to approve the therapy,’ according to Morgan Stanley analysts.They argue that a ‘low bar for aducanumab approval’ implies a lower bar donanemab as well.The analyst David Risinger and the team have an over overweight rating on the Lilly with a ~$190 price target, a ~9.5% downside to the previous close.In a neutral thesis on the stock, Seeking Alpha contributor Jonathan

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Biogen’s FDA review extension: ‘a positive for Lilly’s Alzheimer perception – MS