Biogen CEO to step down as drugmaker pulls back Alzheimer’s drug
Aduhelm is the first drug approved by the Food and Drug Administration which slows cognitive decline in people suffering with Alzheimer’s. The approval of the drug has been criticized by many experts due to lack of evidence showing accuracy of the drug
By Shubhangi Mathur
Published - May 04, 2022, 03:30 AM ET
Last Updated - Feb 26, 2024, 07:27 AM EST
• CEO Michel Vounatsos will remain in his role until a successor is appointed
Biogen Inc (NASDAQ: BIIB) said on Tuesday that Chief Executive Michel Vounatsos will step down from his position amid company’s decision of pulling back the controversial Alzheimer's drug Aduhelm.
The Centers for Medicare and Medicaid Services last month restricted the use of the drug to patients in clinical trials.
“We are disappointed by the recent Medicare coverage decision for ADUHELM,” said Vounatsos.
