Wednesday, December 7, 2022

New Game Changer Drug for Alzheimer’s Patients Fell Short of Expectations on Wall Street

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(TheConservativeNews.org) – Alzheimer’s impacts the lives of millions of people every year. The progressive condition causes sufferers to lose memory, act differently and alter how they think. One drug company recently released a new medication to help slow the progression of the disease. 

Biogen released the first Alzheimer’s drug the Federal Drug Administration has approved in nearly 20 years. Despite being the newest prescription to treat the condition, aduhelm has fallen short of expected sales. 

Aduhelm fell millions of dollars short of its projected third-quarter profit of $12 million, only bringing in $300,000 between July and September. The drug has sparked controversy as Biogen has it priced at $56,000 per year, and doctors and insurance agencies have found the small amount of data on aduhelm’s effectiveness to be troublesome. The CEO of Biogen, Michel Vounatsos, doesn’t seem concerned by the drug’s slow start. 

The FDA’s quick approval of the drug, despite a near-unanimous rejection from its advisory board, has also been a cause for concern. Like the Mount Sinai Health System, some medical centers didn’t buy into the drug and have left it out of their treatment lineups. The Department of Veteran Affairs, along with several other insurance companies, didn’t place aduhelm under their coverage. 

Aduhelm sales started off strong after the drug’s release in June, with $1.6 million. The Biogen CEO is confident about the drug’s long-term future and believes that it will make a comeback. 

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