Biogen’s Q3 Aduhelm Sales Even Worse Than Expected

Executives Emphasize Low Expectations Through Year-End

Oct 21 2021

• By Mandy Jackson

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Analysts expected at least $12m in third quarter sales, but the Alzheimer’s therapy brought in just $300,000. The company says educating doctors and procuring a coverage determination from CMS – not lower pricing – are key to growth.

Success in business concept. Rising arrow and financial report. — Biogen's overall Q3 sales beat consensus, but expectations for Aduhelm are high • Source: Alamy

Expectations for Biogen, Inc.’s third quarter sales of its Alzheimer’s therapy Aduhelm (aducanumab) were low, but the company reported $300,000 in revenue from the product, falling far below analyst consensus of $12m-$17m for Q3. Executives and outside commentators set a low bar prior to Biogen’s earnings report on 20 October, and the company reiterated that it has a lot of work to do to drive significant sales growth in 2022 and beyond.

Doctors have been reluctant to prescribe Aduhelm based on the mixed clinical trial results to date, especially when they do...

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