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Biogen Asks For Yet More Patience As Leqembi Sales Begin Slow Ascent

Skyclarys From Reata A More Immediate Revenue Source

Nov 08 2023

• By Mandy Jackson

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CEO Chris Viehbacher outlined progress Biogen made in the third quarter, including full approval for the Eisai-partnered Alzheimer’s drug Leqembi, but recent wins will take time to make up for long-term revenue declines.

Climb to success - Man working hard and climbing to reach the top of hill — Leqembi and other new products will be slow to add revenue growth • Source: Shutterstock

Biogen, Inc. CEO Chris Viehbacher made a plea for patience while the Leqembi (lecanemab) launch slowly builds momentum as health care providers gear up to administer the anti-amyloid therapy and monitor early Alzheimer’s disease patients treated with the Eisai Co., Ltd.-partnered product. However, investors have been waiting years now for Biogen to return to sales growth and a significant near-term upswing in revenue does not appear to be on the horizon.

Key Takeaways

Biogen reported a 1% overall revenue increase driven by manufacturing and other revenue, but product sales fell 2.9%.

The company reported its third quarter sales and earnings on 8 November, including $2m in Q3 sales for Leqembi. Biogen’s...

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