Top tech stocks to buy now12/23/2023 ![]() ![]() This year, analysts expect revenue to fall another 10% to $9.9 billion. Last year, BIIB reported an 18% decline in revenue to $11.0 billion – due in part to Tecfidera's expiring patent. However, there is some hope of accelerated approval due to positive safety data. Phase III trials are ongoing and expected to last until 2024. Over the last five years, BIIB has made over 20 acquisitions, licensing or development deals.Ĭurrently, it has a candidate in clinical trials, BAN2401, which is targeted toward early onset Alzheimer's disease, dementia and cognitive impairment. To counter this, the company has been aggressively making deals to bolster its pipeline. Last year, the treatment accounted for about 25% of Biogen's total revenue, but is expected to see a significant decline in sales this year. The drug was also rejected by Japanese and European authorities.Īnother challenge for the healthcare stock is that Tecfidera, its MS drug, is now facing generic competition. Last quarter, it only generated $1 million in sales. The treatment has failed to generate much traction in the market as there remain questions about its efficacy, and so far, many insurers and the Centers for Medicare and Medicaid Services (CMS) are not covering it. A major factor in share-price decline is the controversial approval of its Alzheimer's disease drug, Aduhelm. Over the past year, BIIB stock is down 20%. These include Tecfidera, Vumerity, Spinraza and Fumaderm to name a few.
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