Chris Viehbacher, CEO of American pharmaceutical company Biogen, believes that a new Alzheimer's treatment that can be administered at home will give the company an advantage over Eli Lilly's competing drug. He made these comments in an interview with Bloomberg News.
The company and its partner Eisai are expecting U.S. approval in the middle of the year to allow patients to begin using Leqembi at home right away, which, according to the CEO, could become the most important growth driver.
Eli Lilly's drug Kisunla cannot be taken at home, which Biogen says makes the subcutaneous injection more attractive than infusion.
Leqembi is the result of a long-standing collaboration between Swedish company Bioarctic and Eisai, which in turn partners with Biogen.
Biogen further expects to report pre-tax costs of approximately $222 million related to acquired research and development, as well as one-time and milestone payments in the fourth quarter. The cost is expected to impact both reported (GAAP) and adjusted (non-GAAP) results by about $1.26 per share. The effect refers to net income per diluted share for the quarter.
Biogen Inc. is one of the world's leaders in the design, manufacturing, and marketing of therapeutic products. Net sales break down by source of income as follows:
- sales of medicines (72%): for treating multiple sclerosis, chronic psoriasis in adults, rheumatoid arthritis, cancers, etc.;
- royalties (7.4%) ;
- other (20.6%): primarily revenues from partnership agreements.
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