Biogen/Eisai's Leqembi Brings Hope To Early Alzheimer's Patients Amid Logistical Challenges
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 09 2024
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Should l Buy BIIB?
Source: Benzinga
Leqembi's Impact on Alzheimer's Patients: Biogen and Eisai's Alzheimer’s drug Leqembi (lecanemab) is helping patients like Missie Meeks slow cognitive decline, allowing for greater independence despite not being a cure.
Challenges and Concerns: The rollout of Leqembi faces logistical issues such as diagnostic bottlenecks and insurance problems, with some neurologists cautious about prescribing it due to potential side effects and the complexity of treatment administration.
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Analyst Views on BIIB
Wall Street analysts forecast BIIB stock price to rise
26 Analyst Rating
11 Buy
14 Hold
1 Sell
Moderate Buy
Current: 189.280
Low
143.00
Averages
204.45
High
246.00
Current: 189.280
Low
143.00
Averages
204.45
High
246.00
About BIIB
Biogen Inc. is a global biopharmaceutical company. The Company is focused on discovering, developing, and delivering advanced therapies for people living with serious and complex diseases worldwide. It operates a portfolio of medicines to treat multiple sclerosis (MS), spinal muscular atrophy (SMA), Alzheimer's disease, and amyotrophic lateral sclerosis (ALS). It is focused on advancing its pipeline in neurology, specialized immunology, and rare diseases. Its marketed products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS; SPINRAZA for the treatment of SMA; SKYCLARYS for the treatment of Friedreich's Ataxia; QALSODY for the treatment of ALS, and FUMADERM for the treatment of severe plaque psoriasis. It also collaborations with Eisai on the commercialization of LEQEMBI for the treatment of Alzheimer's disease and Sage on the commercialization of ZURZUVAE for the treatment of Postpartum Depression (PPD).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Competitive Market Dynamics: Despite competition from Novo Nordisk, CEO David Ricks emphasized that the company can overcome price declines through higher volumes, with U.S. drug prices down 7% but volumes up 49%, showcasing strong demand for its GLP-1 products.
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- Profitability Improvement: The company's attributable net income rose by 19% to $529 million, or $3.57 per share, significantly exceeding analysts' expectations of $2.95 per share, indicating a notable enhancement in profitability.
- Sales Growth: Sales of Leqembi surged by 74% to $168 million, serving as a key driver for revenue growth, while Skyclarys also exhibited strong double-digit growth, showcasing Biogen's success in new drug development.
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- Market Opportunity for LEQEMBI: The company anticipates launching the subcutaneous formulation of LEQEMBI on the PDUFA date of May 24, which is expected to improve patient convenience and strengthen its competitive position against Kisunla, further solidifying its role in Alzheimer's treatment.
- Acquisition Outlook: Biogen's proposed acquisition of Apellis is expected to be accretive by 2027, highlighting the company's strategic intent to expand commercial growth and enhance its nephrology portfolio, thereby driving future revenue growth.
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