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Biogen shares fell 3% after Morgan Stanley downgraded the stock due to Leqembi's underwhelming launch, cutting 2033 revenue estimates from $5.6 billion to $2.4 billion. The firm adjusted growth forecasts and cited reimbursement issues, logistical challenges, and competition from Eli Lilly's Kisunla. Despite potential upside drivers like ongoing trials, Morgan Stanley sees limited upside in the next 12 months.

Big Pharma companies like Pfizer, Johnson & Johnson, Biogen, and Novartis are focusing on new products to drive future growth amid patent cliffs and market challenges. Pfizer's Prevnar 20 holds strong market share despite competition, while J&J's Tremfya gains traction as Stelara faces biosimilar competition. Biogen's Leqembi struggles with uptake due to infrastructure challenges, and Novartis relies on new oncology drugs to offset patent expirations and price negotiations.

Goldman Sachs maintains Buy rating on Biogen with $290.00 price target, citing Q3 revenue meeting expectations due to Leqembi's performance. The firm observes Biogen's pipeline, including felzartamab and dapirolizumab, and notes potential growth from business development. Biogen's market cap is $26.39B, with a P/E ratio of 22.76, and is trading near a 52-week low.

Lexeo Therapeutics' Phase I/II study of gene therapy LX1001 for Alzheimer’s associated with APOE4 variant shows promising interim results, with APOE2 found in cerebrospinal fluid and stabilization of amyloid pathology in most patients.

Biogen raises diluted EPS guidance to $16.10-$16.60, driven by strong Q3 revenue of $2.5B, with Leqembi revenue at $67M. Despite MS drug sales decline, new products offset losses. Biogen forecasts a low single-digit revenue decline for 2024 but highlights potential $14B in peak annual sales from four research programs. Shares dipped slightly post-earnings.

Biogen's Q3 revenue exceeded expectations, with Leqembi sales rising to $67M. The company raised its EPS guidance to $16.10-$16.60. Biogen's MS drug sales declined, but new product launches are expected to offset this. The firm also partnered with Neomorph for molecular glue degrader development and decided not to pursue MDD for Zurzuvae.

AbbVie acquires Aliada Therapeutics for $1.4B to advance ALIA-1758, an anti-pyroglutamate amyloid beta antibody for Alzheimer's. Aliada's Modular Delivery technology aims to enhance drug delivery across the blood-brain barrier, crucial for effective Alzheimer's treatment.

Biogen reported Q3 revenue and adjusted earnings exceeding expectations, raising full-year profit guidance to $16.10-$16.60 per share. Sales of Alzheimer's drug Leqembi, new rare disease and depression treatments offset declines in MS products, contributing $67 million in Q3 sales.

Pfizer's sickle cell disease therapy Oxbryta was pulled from market due to risks, highlighting the challenges of accelerated approval. The FDA's program has brought nearly 300 drugs to market, often years earlier, but success rates vary. While many drugs have secured traditional approval, others like Oxbryta and Aduhelm were ultimately unsuccessful. The pathway relies on biomarkers predicting clinical benefit, but confirmatory trials are often delayed, raising concerns about safety and efficacy. Experts argue for tighter deadlines and better validation of biomarkers to improve the program's reliability.