** Shares of drugmaker Biogen BIIB.O rise 2.8% to $118.42

** BIIB says that the final process for the European Commission's decision on the marketing authorization application for the company's Alzheimer's drug lecanemab is underway

** The update comes after the reconfirmation of the positive opinion for the drug's approval by the Committee for Medicinal Products for Human Use $(CHMP)$ in February 2025

** The therapy, already approved in U.S. and many other countries, could become Europe's first drug approved to treat the neurodegenerative condition directly rather than just its symptoms

** As of last close, stock has fallen 23.1% YTD

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))