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Biogen Dumps Dubious Alzheimer's Drug After Profit-Killing FDA Scandal
An anonymous reader quotes a report from Ars Technica: Biotechnology company Biogen is abandoning Aduhelm, its questionable Alzheimer's drug that has floundered on the market since its scandal-plagued regulatory approval in 2021 and brow-raising pricing. On Wednesday, the company announced it had te...
An anonymous reader quotes a report from Ars Technica: Biotechnology company Biogen is abandoning Aduhelm, its questionable Alzheimer's drug that has floundered on the market since its scandal-plagued regulatory approval in 2021 and brow-raising pricing. On Wednesday, the company announced it had terminated its license for Aduhelm (aducanumab) and will stop all development and commercialization activities. In the announcement, Biogen noted it took a financial hit of $60 million in the fourth quarter of 2023 to close out its work on Aduhelm, which the company at one point reportedly estimated would bring in as much as$18 billion in revenue per year.
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