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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