Biogen's 2022 outlook leaves investors wanting, shares slip

Biogen expects “minimal” revenue this year from its Alzheimer’s treatment initially hailed as potentially a breakthrough drug, but one with an eye-popping price tag that drew immediate criticism from  doctors and patient advocates

Biogen expects “minimal” sales this year from its Alzheimer’s treatment initially hailed as a potential breakthrough drug, but one with an eye-popping price that drew immediate criticism.

The drugmaker on Thursday released a 2022 forecast that caught investors off guard, sending shares sliding.

Biogen's Alzheimer’s treatment brought in only $3 million last year following its debut, but the company, based in Cambridge, Massachusetts, also reported eroding sales from other key products.

Aduhelm entered the U.S. market after federal regulators approved it last June, but it received pushback from doctors and patient advocates over its initial price of more than $50,000 annually, not counting insurance coverage.