FSTX - Biogen's risks fueling drug pricing debate Citi says AstraZeneca remains top pick at BofA: more in analyst action

Photo by goir/iStock via Getty Images Biogen’s Aducanumab pricing could reignite debate on drug price: Citi With a $56K/ year price tag for its newly-approved Alzheimer's disease treatment Aduhelm (aducanumab), Biogen (BIIB) has already generated criticism from lawmakers. The company is on track for the commercial launch of the therapy with “less preparation on the payer side,” Citi analyst Mohit Bansal wrote with a neutral rating on the stock and the price target of $440.00 per share indicating a premium of ~11.3%. Citing the total addressable market estimated at ~$85 in the U.S. with more than 80% being on Medicare, “it creates an existential question for the program,” the analyst argues pointing to Medicare Part-B spending estimated at ~$37B in 2019. As the debate on drug pricing appears to be winding down, “we suspect the industry could get right back into it again,” Bansal predicts cautioning potential pushback from payers. Biogen

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Biogen’s risks fueling drug pricing debate Citi says, AstraZeneca remains top pick at BofA: more in analyst action