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Sales of new Alzheimer's drug fall short of expectations

Added 10-21-21 10:58:02am EST - “Biogen's sales for its new Alzheimer's drug fell short of Wall Street expectations, with the drugmaker reporting on Wednesday that it brought in millions less than anticipated from Aduhelm in the third quarter.” - Thehill.com

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Posted By TheNewsCommenter: From Thehill.com: “Sales of new Alzheimer's drug fall short of expectations”. Below is an excerpt from the article.

Biogen’s sales for its new Alzheimer’s drug fell short of Wall Street expectations, with the drugmaker reporting on Wednesday that it brought in millions less than anticipated from Aduhelm in the third quarter.

The first Alzheimer’s drug approved by the Food and Drug Administration in almost two decades yielded $300,000 for Biogen between July and September after forecasts had predicted revenue to reach $12 million. 

Since the FDA’s “accelerated approval,” Aduhelm has been immersed in controversy as Biogen sought a $56,000 annual price for the drug and amid several insurers’ and physicians’ uneasiness over the minimal data showing effectiveness.

In a statement, Biogen CEO Michel Vounatsos said Aduhelm’s uptake is “delayed” but “we continue to believe in its long-term potential.” He said on a conference call that Biogen was “not panicking” about the missed expectations, according to news reports.

Stat News had previously reported last month that uptake for Aduhelm was lower than expected with slightly more than 100 patients as of Sept. 11.

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