Cramer says Biogen's Alzheimer's treatment could be 'the biggest drug ever' as shares soar 30%

soared 30% on Tuesday after the drugmaker announced it was seeking regulatory approval for an Alzheimer's drug, aducanumab, it said it was giving up on earlier this year.The announcement comes just months after Biogen discontinued clinical studies for the same drug following a data analysis that did not achieve its objective. Shares of Biogen sold off in March after stopping the trials as Wall Street was expecting this drug to be Biogen's next big source of revenue.

Biogen erased its entire 25% year-to-date decline when it said a new analysis of a larger dataset showed that aducanumab "reduced clinical decline in patients with early Alzheimer's disease." Patients who received the drug "experienced significant benefits on measures of cognition and function such as memory, orientation, and language.

"The whole concept of senior living will change," added Cramer. "You know whose going to take this drug?" asked Cramer. "Everyone." Before the announcement, Biogen reported third-quarter earnings that topped Wall Streets' expectations. Profit rose 7.1%, boosted by higher demand for its rare muscle drug Spinraza and total revenue rose about 5%.

The drug maker reported earnings per share of $9.17 on revenue of $3.60 billion. Analysts had forecast earnings of $8.27 per share on revenue of $3.539 billion.

MadMoneyOnCNBC jimcramer Added to the moment⚡️ “Aducanumab, can it be the first drug for Alzheimer's in a decade?” by DashGenomics

MadMoneyOnCNBC jimcramer Only people with money will get this drug,poor people will suffer,while the drug company's will get really rich,what's new.

MadMoneyOnCNBC jimcramer Excelente notícia...avanço impressionante na luta contra a doença que levou o meu avô.

MadMoneyOnCNBC jimcramer ppl should stop to get all those overvalued cryptos and get some undervalued one like GetDeepOnion, if you want to get rich fast! $onion

MadMoneyOnCNBC jimcramer The biggest drug ever = Biogen will rape the US consumer for years.

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