Pharmaceutical companies

Biogen resurrects failed Alzheimer's treatment

A building with the blue Biogen logo on top.
Biogen's stock soared Tuesday. Photo: Dominick Reuter/AFP via Getty Images

Biogen plans to pursue FDA approval early next year of an experimental Alzheimer's drug that the company had squashed six months ago after initial signs showed the drug didn't work.

Why it matters: This is a major and unexpected development that hints at a possible Alzheimer's treatment, driving Biogen's stock price up by more than 25%. But there remains widespread skepticism about how Biogen is interpreting the clinical trial data, and whether the data shows the drug is effective.

New drugs are launching with ever-higher prices

Pill breaking open spilling $100 bills.
Illustration: Eniola Odetunde/Axios

The average launch prices for new brand-name drugs have skyrocketed over the past decade, according to an analysis from drug research firm 46brooklyn.

Why it matters: The U.S. prescription drug market increasingly has thrived on high initial price tags and subsequent increases. That has resulted in higher premiums and out-of-pocket costs for new drugs, as well as more expensive generics.