Biogen 'disappointed' with slow Adulhelm sales, but expects turnaround, CEO says

Biogen reported $300,000 in Aduhelm sales in its third-quarter financial report released Oct. 20. 

The drugmaker said it has sold a total of $2 million in Aduhelm since the drug was approved in June. Wall Street estimated about $9 billion in annual sales for the Alzheimer's drug, according to Endpoints News

"The potential uptake of Aduhelm in the U.S. is delayed, but we continue to believe in its long-term potential," Biogen CEO Michael Vounatsos said in a news release. 

Aduhelm is the first treatment approved by the FDA intended to slow cognitive decline from Alzheimer's. The Alzheimer's drugs the FDA previously cleared are aimed at alleviating symptoms rather than slowing the disease's progression.

In an earnings call, Mr. Vounatsos said he's "obviously disappointed with the delayed uptake," but that sales are expected to ramp up in 2022, Endpoints News reported. 

Biogen's U.S. President Alisha Alaimo said in the earnings call that about 120 sites have infused at least one patient with Aduhelm. 

Insurers are still waiting on a CMS decision on coverage for Aduhelm, so reimbursement is not yet happening on a wide scale, which could be a contributing factor to the slow sales, Endpoints News reported. 

Find Biogen's full financial results here.

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