Michel Vounatsos, Biogen CEO (Photo by Dina Rudick/The Boston Globe via Getty Images)
Bleeding cash from its Alzheimer's franchise, Biogen preps 'deals of all sizes' as revenue shrivels
Biogen put out its Q4 and 2021 results today, and the numbers paint a picture of a deeply troubled big biotech with profits sliding fast and analysts unimpressed with a plan to shave hundreds of millions in costs this year as its once bright new Alzheimer’s drug Aduhelm remains badly tarnished by controversy and red ink.
They project worse numbers for the year ahead, with revenue — close to $11 billion in 2021, compared to $13.4 billion in 2020 — expected to plunge at least another $1 billion in 2022. And it may be worse than that.
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