Biogen Dumps Dubious Alzheimer's Drug After Profit-Killing FDA Scandal

An anonymous reader quotes a report from Ars Technica: Biotechnology company Biogen is abandoning Aduhelm, its questionable Alzheimer's drug that has floundered on the market since its scandal-plagued regulatory approval in 2021 and brow-raising pricing. On Wednesday, the company announced it had terminated its license for Aduhelm (aducanumab) and will stop all development and commercialization activities. The rights to Aduhelm will revert back to the Neurimmune, the Swiss biopharmaceutical company that discovered it. Biogen will also end the Phase 4 clinical trial, ENVISION, that was required by the Food and Drug Administration to prove Biogen's claims that Aduhelm is effective at slowing progression of Alzheimer's in its early stages -- something two Phase 3 trials failed to do with certainty. In the announcement, Biogen noted it took a financial hit of $60 million in the fourth quarter of 2023 to close out its work on Aduhelm, which the company at one point reportedly estimated would bring in as much as $18 billion in revenue per year.

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