Any effective treatment is likely to become one of the world’s most lucrative drugs, but the Biogen drug faces years of testing and would not reach the market much before 2020, even if all goes well, analysts said.
Biogen shares were up 6.5 percent, or $27.97, at $461.92 in morning trading, after rising as high as $480.18.
Biogen is entering a field littered with expensive failures from such drug makers as Pfizer Inc and Eli Lilly and Co. Lilly and Roche Holding AG are both conducting trials on drugs that work the same way as Biogen’s, by blocking beta amyloid, a protein that forms toxic brain plaques that are theoretically an underlying cause of the degenerative brain disease.
