Biogen’s Boat is Sinking
Last Summer, the U.S. Food and Drug Administration (FDA) approved the first Alzheimer’s drug in nearly two decades… but its approval came with controversy rather than cheers. 👎 Biogen, the company behind the drug, is now sifting through the rubble of a failed launch effort. What Biogen hoped would make a fortune could cost them billions.
That’s because no insurance companies want to cover Aduhelm, which launched at the steep price of $56,000/patient/yr. The drug, which was granted accelerated approval while Biogen conducted additional efficacy studies, reportedly caused bleeding or swelling in the brains of 41% of patients. That bad press caused the drug’s creator to cut prices in half, but that might not even be enough. Biogen reportedly made just $300,000Â in Aduhelm sales from July to September 2021, which was down from $1.6 million in the quarter before.