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Biogen defends Alzheimer’s disease drug approval, reporting $ 2 million in initial Reuters sales

© Reuters. File Photo: January 26, 2017, sign indicating the Biogen facility in Cambridge, Massachusetts, USA.Reuters / Brian Snyder

(Reuters)-Biogen Inc (NASDAQ :) said Thursday that approval of a drug for Alzheimer’s disease is based on extensive data to calm concerns about drug efficacy while reporting initial sales of $ 2 million for the drug. Said that.

The U.S. Food and Drug Administration’s decision to approve aducanumab has been criticized by doctors and hospitals, despite a committee of outside experts recommending opposition, and does not prescribe or prescribe treatment very much. There is also an opinion that it is slow.

The company’s stock rose 1.3% to $ 327.44 in early trading, boosted by Biogen’s higher earnings forecast for the full year.

“We welcome a formal review of the FDA-Biogen interaction towards approval of aducanumab. A better understanding of the facts is good for everyone involved,” R & D director Alfred Sandrock said in an open letter. That’s it. ” Addressed to the Alzheimer’s disease community.

According to Refinitiv’s IBES data, the company’s revenue for the quarter was $ 2 million, compared to analysts’ average estimate of $ 3.23 million.

Revenues from aducanumab are modest this year and are expected to increase thereafter.

Biogen currently expects total sales of $ 10.65 billion to $ 10.85 billion this year, compared to $ 10.45 billion to $ 10.75 billion. The company generated $ 448.5 million ($ 2.99 per share) in the second quarter, which ended June 30, down from $ 1.54 billion ($ 9.59 per share) in the year-ago quarter.

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Biogen defends Alzheimer’s disease drug approval, reporting $ 2 million in initial Reuters sales

Source link Biogen defends Alzheimer’s disease drug approval, reporting $ 2 million in initial Reuters sales

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