Biogen’s Q2 earnings statement offered the first glimpse at how the company’s controversial Alzheimer’s drug is faring on the open market.
In the first few weeks following the drug’s approval, Aduhelm generated about $2 million in sales.
Although some analysts have predicted that Aduhelm could eventually become the top-selling medication of all time, the market also expected a slow start to its ascent. Priced at $56,000 a year, there is still much debate about if or how insurance companies will cover the treatment. And ongoing concerns about its level of efficacy has led to hesitancy among some prescribers.
Biogen also recently indicated that of the 900 sites prepped to offer infusions of Aduhelm, just 35% of them have been cleared for use.
Yet, Biogen has still bumped up its total revenue guidance for the year from $10.45-10.75 billion to $10.65-10.85 billion.
The company has also begun to fight back at the deluge of negative press attention surrounding the drug. In a recent blog post, the company’s head of R&D, Alfred Sandrock, said:
Unfortunately, ADUHELM’s approval has been the subject of extensive misinformation and misunderstanding. It is normal for scientists and clinicians to discuss data from experiments and clinical trials, to debate, and to disagree, on the interpretation of data. That is how science advances and we welcome these discussions. Recently, however, there has been a turn outside the boundaries of legitimate scientific deliberation.
