Axios: Aduhelm's big miss

[anonymous]

Biogen sold $300,000 worth of Aduhelm in the third quarter, well below Wall Street's expectations, Axios' Bob Herman writes.

• It prompted analysts at Raymond James to call the Alzheimer's drug "potentially the worst drug launch of all time" amid Biogen's "persistent hyperbole about the drug's purported benefits."

The big picture: Aduhelm's controversial approval and high price tag have shaped the market reaction. Health insurers are hesitant to cover Aduhelm until Medicaremakes a decision next year, and doctors aren't embracingthe drug, either.

What they're saying: Biogen CEO Michel Vounatsos told Wall Street analysts yesterday the main reason there has been almost no uptake of Aduhelm is the "lack of clarity on reimbursement," which Medicare will clear up by next year.

• Biogen has no short-term plans to lower the price of Aduhelm — which is about $4,300 per monthly infusion for the average patient, or $56,000 annually — because "price doesn't come up as the first worry," Vounatsos said.
• The company declined to comment further.

What we're watching: Biogen executives said the company submitted Aduhelm's clinical trial results "to a top-tier journal with a manuscript now under peer review," but did not provide any further details.

Read more.

 

[anonymous]

Nice. How many ways can you spilt up $300K?

It prompted analysts at Raymond James to call the Alzheimer's drug "potentially the worst drug launch of all time" amid Biogen's "persistent hyperbole about the drug's purported benefits."

 

[anonymous]

Eisai is in Alzheimer’s? Hilarious!