Europe Just Turned Down Biogen's Alzheimer's Drug. Is the Stock One to Avoid, or a Bad News Buy?

Biogen stock has slipped 18% so far this year.Biogen (BIIB -7.15%) built itself into a multiple sclerosis (MS) treatment giant over the years -- but as older blockbusters lost exclusivity, growth stalled. And last year, annual revenue dropped more than 45% to $9.8 billion from its peak back in 2019. Though Biogen launched a new MS drug back in 2019, called Vumerity, it's failed to replicate the growth and revenue levels of its predecessor.To boost growth, Biogen turned to other areas, and has placed a parti ...