Biogen 's (NASDAQ: BIIB) stock is taking yet another body blow since the Centers for Medicare and Medicaid Services (CMS) issued a draft ruling on Jan. 12 that the company's troubled new Alzheimer's drug, Aduhelm, wouldn't be covered by the U.S. public insurance plans except in the context of patients enrolled in clinical trials. That development is only the latest in a series of damaging setbacks since Aduhelm's approval in mid-2021, and it might spell doom for Biogen's near-term commercialization efforts.
Still, there's a chance that the market is overreacting to this latest bad news. Investors who correctly bet on a turnaround might well be rewarded handsomely down the line. Let's analyze how realistic it might be for a purchase of the stock today to be worthwhile in the next few years.
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Is Biogen a Buy After the Latest Aduhelm Disaster?
