SHAREHOLDER ALERT: Law firm Pomerantz is investigating claims on behalf of investors in Biogen Inc.
NEW YORK, February 14, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors in Biogen Inc. (“Biogen” or the “Company”) (NASDAQ: BIIB). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980.
The investigation focuses on whether Biogen and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
At January 11, 2022, post-marketing, the Center for Medicare and Medicaid Services (“CMMS”) announced its proposed decision on reimbursement for Aduhelm, Biogen’s proposed treatment for Alzheimer’s disease. CMMS offered to cover reimbursement under “evidence development coverage,” limiting reimbursement only to patients enrolled in a clinical trial. Additionally, it limited eligible patients like those with mild forms of cognitive impairment or mild dementia and patients who already have amyloid plaques. In addition, CMMS proposed to limit reimbursement to clinical trials in an outpatient hospital setting. CMMS’ reimbursement decision was functionally tantamount to agreeing to reimburse Biogen for conducting a new clinical trial, virtually destroying Aduhelm’s value as an approved drug.
At this news, Biogen’s share price plummeted. $16.18 per share, or 6.7%, to close at $225.34 per share on January 11, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Parisand Tel Aviv, is recognized as one of the leading law firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP