Q4 — Biogen's Aduhelm (aducanumab)

What was wrong with Aduhelm's label?

The FDA initially approved Aduhelm for all Alzheimer's disease, despite trials limited to mild-stage patients — a broad label that inflated market potential and Medicare exposure before being narrowed just one month later.

Julia Reyes/April 15, 2026
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The FDA initially approved Aduhelm for Alzheimer's disease broadly, without limiting it to the early-stage patients who were actually studied. The congressional investigation found the FDA accepted a broad label indication despite a lack of clinical data on disease stages other than mild cognitive impairment and mild Alzheimer's, and that Biogen accepted the broad label despite internal reservations. On July 9, 2021, only a month later, the FDA narrowed the label to patients with mild cognitive impairment or mild dementia, and the same day called for a federal investigation into the approval. A broad label matters because it expands the potential market, which in turn influences pricing, Medicare budgeting and premiums.