Biogen’s Alzheimer’s drug generates $2 million in first few weeks
Theapproval of the drug has been criticized by many experts and the head of FDA isnow calling for a federal investigation looking intointeractions between agency staff and the biotech company, reported CNBC
By Shubhangi Mathur, 4:48 PM ET
Thecontroversial Alzheimer’s drug by Biogen, (BIIB) generated $2 mi llion in revenue in thefirst few weeks of approval, said the company on Thursday.
The companyposted better-than-expected quarterly earnings on Thursday and its shares roseslightly in early trading.
The drug,Adhulem which is scientifically known as aducanumab, was approved by the Foodand Drug Administration in June.
Theapproval of the drug has been criticized by many experts and the head of FDA isnow calling for a federal investigation looking intointeractions between agency staff and the biotech company, reported CNBC.
Dr. Al Sandrock, Biogen’s top research chief, on Thursdaytook a stand for the drug in an open letter saying the approval of the drug has been subject to “extensivemisinformation and misunderstanding.”
“We welcome a formal review into the interactions betweenthe FDA and Biogen on the path to the approval of aducanumab,” Sandrock said.
“A better understanding of the facts is good for everyoneinvolved to assure confidence in both the therapy and the process by which itwas approved as we prioritize the issues that affect patients.”
(Withinputs from CNBC)
PictureCredits: CNBC
