Biogen will cease late-stage clinical trials of aducanumab, its experimental Alzheimer’s disease drug. Around $3bn in aducanumab sales were predicted for 2023. The news comes as the company faces a legal challenge to its multiple sclerosis treatment, Tecfidera, as well as growing competition in its biggest-selling disease categories. In an email sent on Tuesday, Biogen’s chief executive officer and president, Ian Read, said that he was “deeply disappointed” by the news.
Biogen will cease late-stage clinical trials of aducanumab, its experimental Alzheimer’s disease drug. Around $3bn in aducanumab sales were predicted for 2023. The news comes as the company faces a legal challenge to its multiple sclerosis treatment, Tecfidera, as well as growing competition in its biggest-selling disease categories. Biogen’s urgent need to generate growth may be good news for the pharma sector, as the company may need to invest in biotech acquisitions to populate its pipeline.