Biogen’s Alzheimer’s Treatment Gains Crucial Momentum in Chinese Market

Biogen Inc. has achieved a pivotal regulatory milestone in one of the world's largest pharmaceutical markets. China's National Medical Products Administration (NMPA) has accepted the application for a new, easier-to-administer formulation of its Alzheimer's drug, lecanemab. This step represents a significant advance for the company's international commercialization strategy and has prompted a wave of positive reactions from financial analysts.

The focus of the submission is a subcutaneous formulation of lecanemab, designed for at-home use via an autoinjector. This method requires an injection time of just 15 seconds. It presents a substantial practical improvement over the current standard of care, which involves intravenous administration in a clinical setting—a process that places considerable strain on healthcare infrastructure.

For Biogen, this development unlocks access to a vast potential patient population. An estimated 17 million people in China live with mild cognitive impairment or mild dementia due to Alzheimer's disease. Should regulatory approval be granted, this would become the first anti-amyloid therapy for at-home use in the region.

Financial Community Reacts with Upgraded Targets

The positive regulatory news from China has had an immediate impact on Wall Street's assessment of the biotechnology firm. Several major investment banks have revised their price targets for Biogen shares upward within the last 48 hours, reflecting increased confidence in the company's product pipeline and revenue potential.

Should investors sell immediately? Or is it worth buying Biogen?

• Goldman Sachs reaffirmed its "Buy" rating while raising its price target to $225 from $197.
• Mizuho maintained an "Outperform" rating and increased its forecast to $207 from $177.
• RBC Capital Markets confirmed its "Outperform" rating and $210 price target, citing stabilization in the company's core business.

The stock recently surpassed its previous 52-week high and is currently trading around €160.65, maintaining a bullish technical chart posture.

Key Upcoming Catalysts for Investors

Market attention now turns to two near-term events. First, Biogen's management is scheduled to present at the prestigious J.P. Morgan Healthcare Conference on January 12, 2026. Investors anticipate details on the commercial strategy for new products and the rollout plans for the subcutaneous formulation in the United States and Europe.

Secondly, the company will report its fourth-quarter and full-year 2025 financial results on February 6, 2026. Current analyst consensus projects earnings per share of $14.89 for fiscal year 2025. The company's financial position is supported by a robust free cash flow yield and an ongoing "Fit-for-Growth" efficiency program, which aims to deliver billions in savings by the end of 2025. The coming weeks will indicate whether the equity can consolidate and extend its recent upward trajectory.