Biogen is slashing the price of its Alzheimer’s treatment in half months after it debuted to widespread criticism for an initial cost that could reach $56,000 annually.
The FDA approved an unproven Alzheimer’s drug, and its manufacturer priced it in the stratosphere. Result: Medicare members get higher premiums.Biogen Chief Executive Michel Vounatsos said in a prepared statement that too many patients were not being offered the drug due to “financial considerations,” and their disease had progressed beyond the point where Aduhelm could help.
But Aduhelm’s debut has been slowed by concerns over the price and research behind the drug. Some insurers have balked at paying for the drug, while medical centers across the country have been either slow to decide on using the drug or said they weren’t planning to prescribe it for now. RBC Capital Markets analyst Brian Abrahams said he was not surprised by Biogen’s price cut. He said in a research note that the move was probably necessary and should “give Aduhelm its best opportunity for success.”
The agency said about half of that hike was due to the need for a contingency fund to cover Aduhelm. Medicare is expected to be one main payers for the drug. Concerns about the research behind the drug were a main reason cited by the European Medicines Agency in refusing Aduhelm’s marketing authorization last week.
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Biogen cuts the price tag on its Alzheimer's drug in halfBiogen is slashing the price of its Alzheimer’s treatment in half months after it debuted to widespread criticism for an initial cost that could reach $56,000 annually. The drugmaker said Monday that it will cut the wholesale acquisition cost of the drug by about 50% next month. Biogen CEO Michel Vounatsos said in a prepared statement that too many patients were not being offered the drug due to “financial considerations,” and their disease had progressed beyond the point where Aduhelm could help.
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Biogen Cuts Price for Alzheimer’s Drug Aduhelm by HalfBiogen is slashing the price of its controversial new Alzheimer’s disease treatment Aduhelm in half in a bid to revive a product launch that has stalled in part because of a backlash over the drug’s cost.
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Biogen scales back Alzheimer's drug hopesBiogen said on Monday it will cut the price of a newish drug for Alzheimer's from Jan. 1. Wall Street had already mostly given up on the therapy, amid questions over whether it even works and glacial uptake – sales were well below $1 million last quarter. Biogen’s market value, at $35 billion, is below where it was prior to U.S. approval of the therapy in June.
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Biogen cuts the price tag on its Alzheimer's drug in halfBiogen is slashing the price of its Alzheimer’s treatment in half months after it debuted to widespread criticism for an initial cost that could reach $56,000 annually. The drugmaker said Monday that it will cut the wholesale acquisition cost of the drug by about 50% next month. Biogen CEO Michel Vounatsos said in a prepared statement that too many patients were not being offered the drug due to “financial considerations,” and their disease had progressed beyond the point where Aduhelm could help.
Leer más »
Biogen Cuts Price for Alzheimer’s Drug Aduhelm by HalfBiogen is slashing the price of its controversial new Alzheimer’s disease treatment Aduhelm in half in a bid to revive a product launch that has stalled in part because of a backlash over the drug’s cost.
Leer más »
Biogen scales back Alzheimer's drug hopesBiogen said on Monday it will cut the price of a newish drug for Alzheimer's from Jan. 1. Wall Street had already mostly given up on the therapy, amid questions over whether it even works and glacial uptake – sales were well below $1 million last quarter. Biogen’s market value, at $35 billion, is below where it was prior to U.S. approval of the therapy in June.
Leer más »