Biogen Inc. (NASDAQ: BIIB) Alzheimer’s drug aducanumab or “Aduhelm” was approved by the Food and Drug Administration (FDA) this morning. Aduhelm is the first drug cleared by the FDA to help fight Alzheimer’s in almost 20 years. The Company’s stock price jumped from USD 286.43 to USD 468.55.
The drug is expected to generate billions of dollars in revenue for Biogen as there are more than 6 million Americans currently living with Alzheimer’s. Additionally, that number is expected to climb to approximately 13 million Americans by 2050.
The Company will list the drug for USD 56,000 per year or roughly USD 4,312 per infusion.
“This is the first FDA-approved drug that delays decline due to Alzheimer's disease. This means individuals may have more time to actively participate in daily life, have sustained independence and hold on to memories longer. We can experience longer — the relationships we hold most dear — our families and friends,” said Harry Johns, the Alzheimer’s Association President and Chief Executive Officer.”
Aduhelm is the first drug designed to slow the mental deterioration of Alzheimer’s, whereas previously approved drugs were designed to fight the symptoms of Alzheimer’s.