Biogen’s 2022 outlook leaves investors wanting, shares slip

By TOM MURPHY
AP Health Writer

Biogen expects “minimal” revenue this year from its Alzheimer’s treatment initially hailed as potentially a breakthrough drug, but one with an eye-popping price tag that drew immediate criticism from  doctors and patient advocates. The drugmaker on Thursday released a forecast for 2022 that caught investors off guard, sending shares down more than 3% before the opening bell. Biogen’s Alzheimer’s treatment brought in only $3 million last year following its debut, but the company, based in Cambridge, Massachusetts, also reported eroding sales from other key products like the multiple sclerosis treatment Tecfidera.