Doctors appear sceptical over the widely-publicised news this week that US drug company Biogen has developed a breakthrough medication for Alzheimer’s disease.
The company announced it was seeking approval from the FDA (US drug licensing authority) for Aducanumab, the first remedy that could actually delay the development of the disease.
“This is strange news”, neurologist Joaquim Ferreira told reporters in Portugal. “I would need to really analyse it before saying anything”.
Perhaps the ‘strangest’ aspect – one that sent Biogen’s share price plummeting – is that the firm was reported to be ending two late-stage trials of Aducanumab last March after an independent monitoring committee determined they “had little hope of succeeding”.
At the time Reuters said the news wiped more than 18 billion dollars off the value of Biogen’s shares.
The same article stressed that “without potential future revenue from Alzheimer’s, Biogen has poor growth prospects as it faces patent issues over its big-selling multiple sclerosis drug Tecfidera and possible competition to spinal muscular atrophy drug Spinraza”.
Since then even the makers of Spinraza have run into trouble – thanks to competition from Zolgensma, the ‘world’s most expensive drug’ recently major news in Portugal thanks to the plight of several babies (click here).
But back to Biogen and the fact that it has decided to press ahead with Aducanumab.
The company has apparently explained that it carried out additional analysis on the drug (post March) and “concluded that between the 1600 patients who took part in the trials, results were positive in the group that received the highest doses”.
Says Correio da Manhã tabloid, “Biogen’s director Michel Vounatsos guarantees that he was told at a meeting with the FDA this week that it was ‘reasonable’ to candidate the medication for approval”.
The FDA however “has not commented” as experts throughout the world remain ‘sceptical’.
Says CM: “Portugal has more than 200,000 people with Alzheimer’s and other dementias. It is the fourth country in the OECD with the greatest number of cases per 1000 inhabitants (19.9).
On a global scale, there are thought to be around 50 million people with Alzheimer’s disease.
According to Biogen, Aducanumab could reduce the development of Alzheimer’s by 25% if administered following the first signs of the disease.
Biogen’s announcement has restored the value of its shares to levels pre-March.
Says CM, shares skyrocketed by 40%, “an increase in value of above 18 billion dollars”.
