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Expand chart
Data: Money.net; Chart: Axios Visuals

Biogen was a shattered biotech company in March after it pulled the plug on its new Alzheimer's drug, but it recaptured Wall Street's good graces by looking at its data again and deciding to shoot for FDA approval after all.

Reality check: Alzheimer's affects almost 6 million Americans, and those patients and their families have desperately sought an effective treatment. But independent experts have not reviewed Biogen's data, and the industry isn't exactly on good footing right now when it comes to being forthright about its data.

What they're saying: Many stock traders are skeptical of Biogen's new Alzheimer's claims, Stat reported.

  • One of the two large clinical trials still failed.
  • Everything depends on whether patients actually improved their cognitive functions on higher doses of the drug, called aducanumab.

Yes, but: That skepticism doesn't mean the drug won't get FDA approval.

  • The FDA has shown a willingness recently to approve drugs, sometimes controversially, if they treat conditions with a dearth of options and if companies agree to conduct post hoc studies.

The big picture: The public should always be skeptical of drug company data and claims — especially with this drug, and in the industry's current state.

  • Any drug treating Alzheimer's would greatly alter society, both clinically and financially, so there's a lot of pressure to get something like this right.
  • There's also a lot of pressure to make sure drug companies aren't manipulating the results. Novartis recently got approval for Zolgensma, the world's most expensive drug, but the FDA later found out the company's data was faulty — and Novartis knew about it.

Go deeper: The outlook for Alzheimer's research keeps getting bleaker

Go deeper

FBI director: Jan. 6 Capitol attack was domestic terrorism

The FBI views the Jan. 6 Capitol siege as an act of domestic terrorism, director Christopher Wray testified in his opening statement Tuesday before the Senate Judiciary Committee.

Why it matters: The FBI's designation of the attack as domestic terrorism puts the perpetrators "on the same level with ISIS and homegrown violent extremists," Wray said.

Sen. Martin Heinrich to introduce plan for Puerto Rico statehood

U.S. Sen. Martin Heinrich (D-N.M.) at a hearing on Feb. 23, 2021 in Washington, D.C. PHOTO: Jim Watson-Pool/Getty Images

U.S. Sen. Martin Heinrich (D-N.M.) and Rep. Darren Soto (D-Fla.) announced Tuesday they would introduce legislation to start the motions for Puerto Rico statehood.

Why it matters: More than 52% of Puerto Ricans voted last November in favor of statehood, three years after Hurricane Maria struck the island and caused one of the worst natural disasters in recorded history. It exposed the island's vulnerable position as a U.S. territory and its lack of resources to battle poverty.

J&J and Merck to partner for COVID vaccine production to boost supply

Empty vials that contained a dose of the Johnson & Johnson vaccine against the COVID-19. Photo: Phill Magakoe/AFP via Getty Images

President Biden will announce Tuesday that pharmaceutical giant Merck will help Johnson & Johnson manufacture its newly authorized coronavirus vaccine to boost supply, a senior administration official tells Axios.

The big picture: The development has the potential to vastly increase supply, possibly doubling what the J&J could make on its own, the official said. The company has run into challenges while trying to expand its vaccine production to a global scale.