Biogen Slashes Price of its Alzheimer’s Treatment
Dec 21, 2021 By MarketDepth
Biogen Inc. (Nasdaq: BIIB) announced its decision to reduce the wholesale acquisition cost of ADUHELM® on December 20th.
Slashed by 50%
The company had previously debuted its Alzheimer’s treatment to widespread criticism for an initial cost that could reach US$56,000 annually. Now, in an effort to lower out-of-pocket expenses for patients, the cost of ADUHELM® has been slashed by 50%.
“Over the past several months, we have listened to the feedback of our stakeholders, and we are now taking important actions to improve patient access to ADUHELM. It is a critical time for the Alzheimer’s disease community as the Centers for Medicare and Medicaid Services (CMS) is considering the possibility of coverage of not only ADUHELM, but also this entire new class of Alzheimer’s disease therapies. We hope our actions today will facilitate patient access to these innovative Alzheimer’s treatments.”Michel Vounatsos, Chief Executive Officer at Biogen
Furthermore, the Company will also seek to implement a series of cost-reduction measures in 2022, with a portion of the expected 500 million in savings to be offset by investments in Biogen’s pipeline and strategic initiatives.
“These are difficult decisions necessary to sustain our mission to develop medicines for the most devastating neurological diseases. We must bring our cost base in-line so we can continue to invest in future innovation and growth, retain and compete for outstanding talent, and provide acceptable returns to our shareholders.”Michel Vounatsos, Chief Executive officer at Biogen