Biogen is the big loser in bad year for pharma brand values (fiercepharma.com)
Biogen is the big loser in an annual review of biopharma brand values. After a year in which lawmakers accused Biogen of “inappropriately” collaborating with the FDA and setting an “unjustifiably high price,” the biotech’s brand value slumped 39%, sending it down a leader board topped by Johnson & Johnson.
The analysis comes from Brand Finance, a consultancy that values brands by researching factors such as customer perceptions. In its 2023 healthcare report, the consultancy lists the brand value winners and losers from the past 12 months. Multiple leading drugmakers suffered declines in the value and strength of their brands as the pandemic sheen came off, but none fell quite as dramatically as Biogen.
Biogen’s 39% decline was the biggest fall in brand value from 2022 to 2023.
Biogen is the big loser in an annual review of biopharma brand values. After a year in which lawmakers accused Biogen of “inappropriately” collaborating with the FDA and setting an “unjustifiably high price,” the biotech’s brand value slumped 39%, sending it down a leader board topped by Johnson & Johnson.
The analysis comes from Brand Finance, a consultancy that values brands by researching factors such as customer perceptions. In its 2023 healthcare report, the consultancy lists the brand value winners and losers from the past 12 months. Multiple leading drugmakers suffered declines in the value and strength of their brands as the pandemic sheen came off, but none fell quite as dramatically as Biogen.
Biogen’s 39% decline was the biggest fall in brand value from 2022 to 2023.