Biogen Halves Aduhelm Price, Readies $500m In Cost Cuts
Potential Job Losses Loom As Holidays Approach
The Alzheimer’s drug’s price was cut to $28,200 per year just one month before CMS is expected to issue a draft national coverage determination for amyloid-clearing antibodies, raising questions about the timing.
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VC funding slowed recently, but public company financings kept up a brisk pace with follow-on public offerings for Allakos and Alpine, private placements for Ventyx and Syros, and Albireo’s royalty deal. In restructuring updates, Biogen raised $592m in a real estate deal and Acerus is assessing options.
After the Aduhelm controversy, Eisai/Biogen, Roche and Lilly are lining up Phase III results for their candidates which, against the odds, they hope could finally represent real progress in Alzheimer’s treatment. Scrip takes a look at the key questions surrounding the field as the drugs await their fate.
The US FDA accepted an application for accelerated approval and set a 6 January action date, giving lecanemab ample time to reach the market ahead of Lilly’s competing anti-amyloid antibody donanemab.