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Biogen CEO Plots A Slow Return To Growth As Revenue Set To Shrink Again In 2023

Cost Cuts, R&D Prioritization, Deals All On The Table

 
• By Mandy Jackson

Christopher Viehbacher told his first earnings call as CEO that a review is under way to reverse Biogen’s fortunes, but noted Leqembi will not be a meaningful contributor while treatment and reimbursement bottlenecks remain.  

Q4 on red background, fourth quarter cover or poster
Biogen reported a 7% revenue decline for Q4 and the full year of 2022 • Source: Shutterstock

A return to growth at Biogen, Inc. will not be fast, but new CEO Christopher Viehbacher provided assurances during the company’s fourth quarter earnings call on 1 February that a thorough review of operations is under way with options for cutting costs and improving revenue all on the table. However, Viehbacher also noted its Eisai Co., Ltd.-partnered Alzheimer’s disease therapy Leqembi (lecanemab) is not likely to be a meaningful contributor until certain bottlenecks are cleared.

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