Biogen's Q3 revenue declines 10% as focus shifts to new Alzheimer's and ALS drug candidates
While Biogen’s Q3 revenue dipped by 10% versus the prior year, the company focused its earnings call on two bright prospects — recently unveiled positive results for lecanemab, its anti-amyloid Alzheimer’s follow-up to Aduhelm, and its potential ALS drug tofersen.
The FDA has until Jan. 6, 2023, to decide on lecanemab’s accelerated approval, and Biogen execs, who have partnered with Eisai on the new drug with 50-50 profit sharing, indicated that a full approval submission would soon follow in the US, EU and Japan before the end of Q1 2023.
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