As it neared a potential approval, Biogen’s Aduhelm was forecasted to potentially become the best-selling drug of all time. But in its first full quarter on the market, the controversial Alzheimer’s drug fell far below expectations.
According to Biogen, the amyloid-targeting monoclonal antibody pulled in just $30,000 in sales in Q3 — well below analyst estimates of $10.79 million.
The challenges faced by Biogen in its rollout of Aduhelm have been numerous: Questions continue to hover over the efficacy of the drug and its FDA approval, which many have complained was tainted by a potentially cozy relationship between regulators and Biogen. It’s $50,000-per year price point has also been widely panned.
Despite its slow start, Biogen’s CEO, Michel Vounatsos said the company believes in the drug’s “long-term potential.”
In its earnings report, the company also boasted that it is executing well across its “leading MS, SMA and biosimilars businesses.”
“We are particularly encouraged by the ongoing launch of Vumerity,” Vounatsos said of Biogen’s multiple sclerosis drug that was approved in the U.S. in 2019 and has since become the top selling oral MS drug in the country.
