Biogen to discontinue development of older Alzheimer’s drug Aduhelm

Jan 31 (Reuters) – Biogen Inc (BIIB.O) said on Wednesday it would terminate a post-approval study of its Alzheimer’s drug, Aduhelm, after failing to find a partner or external financing for the controversial treatment.

The company will also discontinue sales of the drug, and has taken a one-time charge of $60 million for closing the Aduhelm program in the fourth quarter, it said.

Aduhelm, once expected to be the company’s next big blockbuster treatment, was riddled with controversy over its approval without clear evidence of patient benefit, and the U.S. Medicare’s decision to severely limit access cast serious doubt on its sales potential.