The Biogen factor in the medical world and the money machine?
Between the COVID-19 outbreak and the conspiracy theories about who is making more money from the disaster, there is one truth: Biotechnology surged!
And with the surge in this segment, there is money to be made by the astute investor. However, there is a bit of concern with Biogen, the maker of Aduhelm, the Alzheimer’s drug.
The company did not deliver in terms of sales.
Despite high expectations, Biogen has only reported a fraction of the expected sales for its historic Alzheimer’s treatment.
Aduhelm was approved by the FDA in June as the first Alzheimer’s drug to try to slow cognitive decline.
In order to increase sales, the company plans to cut Aduhelm’s contentious list price in half.
But, biotech is winning thanks to COVID-19 and this is where the ‘health-conscious investors should head in their investment search.
We are not saying you should invest in Biogen, that is up to you. It is still a growing stock and we believe it will rise once it starts showing value for money.
Remember that the FDA’s accelerated approval of aducanumab, the first drug that treats the underlying biology of Alzheimer’s rather than just the symptoms, was one of the top health stories of 2021.
This is just the beginning though during the third quarter, the drugmaker reported only $300,000 in revenue from Aduhelm sales. This is a fraction of what Wall Street expected.