CMS update ‘incremental positive’ for Biogen, says William Blair

The Centers for Medicare and Medicaid Services yesterday released a fact sheet confirming CMS coverage of amyloid antibodies for the treatment of Alzheimer’s disease with FDA traditional approval, William Blair analyst Myles Minter the analyst tells investors in a research note. The firm says this indicates that CMS coverage would begin on the July 6 FDA action date, if and when Biogen’s Leqembi receives full approval. Blair views the CMS update as an “incremental positive” for Biogen given the “seemingly modest” data requirements and anticipated minimal burden on physicians, who would likely have nearly all the requested data readily available from patient records. The firm remains bullish on the full approval prospects of Leqembi by the July 6 action date.