Biogen says it will start delivering Alzheimer's drug in US in two weeks

Drug is the first treatment to target a likely underlying cause of Alzheimer's, sticky deposits of a protein called amyloid-beta, and the first to be approved in decades

Biogen once had a link with former Irish-based drugs firm Elan.

Biogen, the US drugs firm that won approval from the Food and Drugs Administration for its Alzheimer's drug, said it expects to start delivering to US heathcare centres for the intravenous infusion in two weeks. 

Its Aduhelm drug is the first treatment to target a likely underlying cause of Alzheimer's disease, sticky deposits of a protein called amyloid-beta, and the first to be approved in decades.   

Biogen once had a complicated relationship with former Irish-based drugs firm Elan that ended in legal acrimony seven years ago and in Biogen acquiring the full rights over Tysabri that is used in the treatment of multiple sclerosis. 

Biogen chief executive Michel Vounatsos told analysts the sites include clinical trial centres with currently confirmed amyloid-beta positive patients, as well as other locations with infrastructure to diagnose and treat patients. 

The company priced the drug at $56,000 (€46,000) per year and patients who are prescribed it need to undergo additional testing in the form of either a cerebrospinal fluid test, or a Pet scan to confirm the presence of amyloid-beta in the brain.

Guggenheim analysts have estimated sales from the drug could be over $1.3bn in 2022. 

Biogen chief financial officer Michael McDonnell said there are up to 2m Americans who have been diagnosed with mild dementia or cognitive impairment, who would be amyloid-beta positive. 

The need for Pet or fluid tests and the limited availability of specialists could limit Aduhelm's use in these patients, Mr McDonnell said.

Revenue from Aduhelm could start ramping up in 2022 and beyond, but could be low in 2021 due to the need for sites to prepare to diagnose and treat patients, Mr McDonnell said. 

Biogen shares have surged 40% since Monday's FDA approval to value it at $56.6bn.