Biogen receives ‘fairly benign’ label for Alzheimer’s drug, says BofA

BofA analyst Geoff Meacham says the FDA approved Biogen’s Alzheimer’s treatment Leqembi with a "fairly benign" label, which "should bode well" for the company. While the approval was widely expected, investors have been focused on the label as related to safety warnings and contraindications, Meacham tells investors in a research note. The label makes no mention of blood thinners in the warnings and contraindication section, the analyst points out. That said, the label does state that "caution should be exercised when considering the administration of antithrombic or a thrombolytic agent to a patient already being treated with lecanemab," adds Meacham. He keeps a Neutral rating on Biogen shares with a $295 price target.