Biogen Retains Biosimilars as Eisai-Partnered Leqembi Advances Amid Business Shift

1. Biogen's Strategic Decision: Biogen has decided to retain its biosimilars business while continuing to advance Leqembi, a drug for Alzheimer's disease, in partnership with Eisai.
2. Leqembi's Progress: Leqembi, also known as lecanemab, has been approved for the treatment of Alzheimer's disease in several countries including the U.S., Japan, China, South Korea, and Hong Kong. It is also under review in the European Union.
3. Clinical Trials: Ongoing clinical trials include the Phase 3 AHEAD 3-45 study for preclinical Alzheimer's disease and the Tau NexGen study for Dominantly Inherited Alzheimer's Disease (DIAD).
4. Collaboration: Eisai and Biogen have been collaborating on Alzheimer's disease treatments since 2014, with Eisai leading the development and regulatory submissions for lecanemab.
5. Business Pivot: Biogen's decision to retain biosimilars is part of a broader business strategy shift, indicating a commitment to both innovative treatments and cost-effective biosimilars.
6. Financial Performance: Biogen's financials show a revenue of $2.29 billion and a net income of $393.40 million for the March 2024 quarter, with a net profit margin of 17.18%.
7. Market Impact: The stock price of Biogen has been influenced by recent news, including the EU's rejection of another Alzheimer's drug, which has led to mixed market reactions.