Shares of Biogen (BIIB) dropped more than 3 percent Thursday after the Cambridge, Mass., biotech reported that an experimental Alzheimer’s drug it’s co-developing with a Japanese company showed disappointing results in a mid-stage clinical trial.
But the setback affects only one of a half-dozen compounds Biogen is developing to target Alzheimer’s disease, the memory-ravaging neurodegenerative disorder that is expected to affect about one in nine baby boomers and cost the nation $1 trillion by 2050.
