Biogen Inc. Company News: Berger Montague Investigates Securities Fraud Allegations Against Biogen, Inc. (NASDAQ: BIIB); Lead Plaintiff Deadline is April 8, 2022

<br /> Biogen Inc. Company News: Berger Montague Investigates Securities Fraud Allegations Against Biogen, Inc. (NASDAQ: BIIB); Lead Plaintiff Deadline is April 8, 2022<br />

PR Newswire

PHILADELPHIA

,

March 3, 2022

/PRNewswire/ —

Berger Montague

is investigating securities fraud allegations on behalf of investors who purchased the securities of Biogen, Inc. (“Biogen” or the “Company”) (NASDAQ: BIIB) between

June 7, 2021

and

January 11, 2022

(the “Class Period”).

If you purchased Biogen securities during the Class Period, would like to discuss

Berger Montague’s

investigation, or have questions concerning your rights or interests, please contact attorneys

Andrew Abramowitz

at

[email protected]

or (215) 875-3015, or

Michael Dell

‘Angelo at

[email protected]

or (215) 875-3080 or visit:

https://investigations.bergermontague.com/biogen-inc/

Whistleblowers:

Anyone with non-public information regarding Biogen is encouraged to confidentially assist

Berger Montague’s

investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.

Biogen, headquartered in

Cambridge, MA

, is a biotechnology company known for proprietary treatments for Multiple Sclerosis (“MS”) and other chronic conditions. In

March 2019

, Biogen announced it was abandoning Aduhelm, its potential blockbuster drug for treating Alzheimer’s disease. However, according to a recently filed lawsuit, contrary to this decision, a group of Biogen executives began to meet with the FDA’s Director of the Office of Neuroscience in an effort to gain FDA approval for Aduhelm.

On

June 7, 2021

, Biogen announced that the FDA had approved Aduhelm through the agency’s Accelerated Approval process. On this news, shares of Biogen stock skyrocketed by more than

$100

per share, from a closing price of

$286.14

on

June 6, 2021

to

$395.85

on

June 7, 2021

.

However, according to the lawsuit, over the next several months, investors learned that Aduhelm was dangerous and ineffective and that hospitals refused to prescribe it and major insurance companies refused to cover it. In fact, members of the FDA advisory panel resigned in protest over Aduhelm’s approval. Federal regulators and Congressional committees have launched investigations into the drug’s approval.

On

January 11, 2022

, the Center for Medicare and Medicaid Services published its draft opinion revealing that Medicare would cover Aduhelm only for patients enrolled in a clinical trial. On this news, Biogen’s stock price fell to

$225

per share, more than 40% lower than the price at which shares traded following the announcement of FDA approval.

Berger Montague

, with offices in

Philadelphia

,

Minneapolis

,

Washington, D.C.

, and

San Diego

, has been a pioneer in securities class action litigation since its founding in 1970.

Berger Montague

has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout

the United States

.