Biogen is now that much more reliant on a controversial Alzheimer’s treatment
Yesterday, a federal court invalidated the last remaining patent to Biogen’s blockbuster multiple sclerosis drug Tecfidera, opening the path to a multitude of generics and underlining just how much of the company’s future rests in the hands of the FDA.
The court ruling follows a previous decision that allowed Mylan to launch the first generic of Tecfidera, which accounts for nearly a quarter of Biogen’s revenue. The latest decision clears the way for numerous other generics companies to launch versions of their own, which could swiftly erode the market and cut significantly into Biogen’s business, according Baird analyst Brian Skorney.
The news, which was generally expected, highlights how much of Biogen’s future rides on aducanumab, a treatment for Alzheimer’s disease now awaiting FDA approval. The therapy’s supporting evidence has been deeply controversial among experts, and the FDA’s final decision, expected by March, will determine whether Biogen can look forward to blockbuster returns or a painful reorganization.
The court ruling follows a previous decision that allowed Mylan to launch the first generic of Tecfidera, which accounts for nearly a quarter of Biogen’s revenue. The latest decision clears the way for numerous other generics companies to launch versions of their own, which could swiftly erode the market and cut significantly into Biogen’s business, according Baird analyst Brian Skorney.
The news, which was generally expected, highlights how much of Biogen’s future rides on aducanumab, a treatment for Alzheimer’s disease now awaiting FDA approval. The therapy’s supporting evidence has been deeply controversial among experts, and the FDA’s final decision, expected by March, will determine whether Biogen can look forward to blockbuster returns or a painful reorganization.
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