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Without An Alzheimer’s Blockbuster, Biogen Is A Ship Without A Growth Rudder

Lecanemab Phase III Readout Next Major Milestone

 
• By Mandy Jackson

In addition to its uncertain attempt at near-term revenue growth with Eisai-partnered lecanemab, Biogen recently ended multiple R&D programs and will pay $900m to settle a whistleblower lawsuit.

Sailing yacht control wheel and implement
Biogen is trying to navigate its way back to revenue growth • Source: Shutterstock

Biogen, Inc.’s revenue is sinking and its next opportunity to right the ship is the Eisai Co., Ltd.-partnered lecanemab. However, the idea that it can steer the company toward major revenue growth with an amyloid-targeting therapy for Alzheimer’s disease after the spectacular demise of Aduhelm (aducanumab) and multiple other recent setbacks may not float with investors.

Biogen closed down 5.8% at $207.49 on 20 July even after the company reported second quarter financial results that exceeded...

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