(Reuters) – Biogen Inc said on Monday it would reduce the price of its Alzheimer’s disease drug by about 50% to help create a bigger market for the newly approved drug.
The new price would represent a yearly cost of $28,200 per patient, Biogen said.
Biogen believes with insurance coverage, and access to diagnostics and specialized centers, roughly 50,000 patients may initiate treatment with the drug, Aduhelm, in 2022.
Biogen has been banking on Aduhelm to buffer a hit from its main revenue drivers facing rising competition, but the drug is facing slow uptake as several commercial insurers wait for further direction from Medicare before covering the drug.
(Reporting by Manas Mishra in Bengaluru; Editing by Anil D’Silva)
