UPDATE 1-Biogen full-year adjusted profit forecast assumes Alzheimer's drug approval

Reuters2021-02-03

(Adds details on forecast, background)

Feb 3 (Reuters) - Drugmaker Biogen Inc on Wednesday provided a full-year adjusted profit forecast that included sales from its Alzheimer's drug being reviewed by the U.S. drug agency.

The company expects the drug, aducanumab, will be approved by June 7, the date set by the U.S. Food and Drug Administration.

The road to getting a regulatory approval for the drug has been rocky, with Biogen and partner Eisai Co Ltd scrapping two studies in March 2019 and reversing that decision a few months later.

An expert panel to the FDA had voted "no" to three questions related to whether a single successful large trial of aducanumab was enough evidence of the drug's effectiveness given the clear failure of a second large study.

Biogen expects 2021 adjusted profit of $17 to $18.5 per share.

(Reporting by Dania Nadeem and Manas Mishra in Bengaluru; Editing by Sriraj Kalluvila)

((Dania.Nadeem@thomsonreuters.com;))

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