With Alzheimer’s drug sales weak, Biogen offers a disappointing financial outlook for 2022

Sales of Aduhelm, Biogen’s treatment for Alzheimer’s disease, continued to underperform expectations in the fourth quarter, Biogen said Thursday, leading the company to issue a disappointing financial forecast for 2022.

Aduhelm accounted for $1 million in revenue in the final three months of 2021, depressed by continued doubts about the drug’s benefit for patients and restrictions placed on its use by insurance companies. Analysts who cover Biogen were expecting the company to deliver $2 million in Aduhelm sales during the fourth quarter.

Biogen revenue in 2021 totaled $10.98 billion but the company’s revenue guidance for this year is in the range of $9.7 billion to $10 billion, a projection that fell nearly $400 million short of investor expectations.

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