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An Alzheimer's Drug Was Supposed to Be a Blockbuster for Biogen. Its Failure Cost the CEO His Job
16 days ago - By Observer
Michel Vounatsos, CEO of the biotech company Biogen, had huge expectations for the Alzheimer's drug, Aduhelm. Now it looks like Aduhelm's failure will cost Vounatsos his job.
In the latest development in the saga of the controversial drug, Vounatsos said today he was resigning as the company announced it would make substantial cutbacks in its spending on the drug, which had been positioned as a blockbuster. In the first quarter, Biogen made $2.8 million off of Aduhelm, which represents just 0.1% of the company's earnings in the first three months of the year.
The company will instead focus...
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