Biogen expects 'minimal' revenue this year from its Alzheimer's treatment initially hailed as potentially a breakthrough drug, but one with an eye-popping price tag that drew immediate criticism from doctors and patient advocates.
The Biogen Inc., headquarters in Cambridge. Biogen released a surprisingly low 2022 forecast Thursday, Feb. 3, 2022, as the drugmaker deals with sluggish sales from an Alzheimer’s treatment initially hailed as a potential breakthrough drug.
Aduhelm entered the U.S. market after federal regulators approved it last June, but it received pushback from doctors and patient advocates over its initial price of more than $50,000 annually, not counting insurance coverage. The Centers for Medicare and Medicaid Services said in a preliminary coverage decision that patients taking Aduhelm will have to participate in another study that evaluates the drug's effectiveness in order for Medicare to cover the cost.
He said it also would duplicate what Biogen, which developed Aduhelm with Japan's Eisai Co., is already doing to collect more data on its drug.Aduhelm sales of $1 million in the fourth quarter remained"incredibly light," Mizuho Securities analyst Salim Syed said in a research note.
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