ESALY - Is Biogen Stock a No-Brainer Buy After Eli Lilly's Alzheimer's Disease Setback?
A regulatory failure for one drugmaker often represents a key win for another company. That might be the case in the Alzheimer's disease market after a recent U.S. Food and Drug Administration (FDA) decision.
Last week, the FDA issued a complete response letter for Eli Lilly 's (NYSE: LLY) accelerated approval submission of experimental Alzheimer's disease drug donanemab. Less than two weeks earlier, the agency approved accelerated approval for Eisai 's (OTC: ESALY) and Biogen 's (NASDAQ: BIIB) Alzheimer's disease drug Leqembi.
It's not surprising that Biogen and Eli Lilly stocks have gone in different directions so far in 2023. But is Biogen stock a no-brainer buy after Eli Lilly's Alzheimer's disease setback?
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Is Biogen Stock a No-Brainer Buy After Eli Lilly's Alzheimer's Disease Setback?