The announcement Tuesday night from Eisai and Biogen that their experimental medicine, lecanemab, reduced Alzheimer’s patients’ decline as measured by a clinical questionnaire is one of the biggest – and potentially happiest – shocks in the recent history of medicine.
It’s a shock because Biogen had so bungled the launch of their previous Alzheimer’s drug, Aduhelm, with failed clinical trials, a tortuous path to approval, and a wholesale rejection by Medicare and by the market. Wall Street analysts, who advise investors on what to buy, were not expecting success.