IvelinRadkov
Biogen (NASDAQ:BIIB) has decided to discontinue its Alzheimer’s disease drug Aduhelm after the company’s inability to secure a strategic partner or external funding for the product, which was licensed from Neurimmune.
The biotech giant intends to repurpose the resources allocated for Aduhelm towards the advancement of its other Alzheimer’s drugs, including the recently approved Leqembi and drug candidates BIIB113 and BIIB080. Leqembi’s development is being spearheaded by the Japanese drugmaker Esai (OTCPK:ESAIY).
Biogen emphasized that the decision to terminate the Aduhelm program was not driven by any concerns regarding its efficacy or safety.
Despite receiving accelerated approval from the FDA in 2021, Aduhelm faced scrutiny over its effectiveness, with a confirmatory Phase 4 study required for the product to remain on the market. Biogen has revealed that the study, named ENVISION, is also being discontinued.
Consequently, Biogen has incurred a one-time charge of $60 million in Q4 due to the discontinuation. Rights to Aduhelm, also known as aducanumab, will be returned to Neurimmune.
