Biogen Raises Outlook After Slow Start for Alzheimer’s Drug
- Sales of newly approved Aduhelm were $300,000 in quarter
- Biotech company projects stronger earnings, sales for year
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Biogen Inc. raised its financial guidance for the year despite expecting little revenue in the near term from its just-approved Alzheimer’s therapy.
Sales of the controversial drug, which was approved earlier this year in the U.S., were just $300,000 in the quarter, the company said in a statement Wednesday. Some doctors have said that they won’t prescribe the drug and Medicare hasn’t yet decided whether it will cover it.