Biogen’s Alzheimer’s drug generates $2 million in first few weeks

The controversial Alzheimer’s drug by Biogen generated $2 million in revenue in the first few weeks of approval, said the company on Thursday.

The company posted better-than-expected quarterly earnings on Thursday and its shares rose slightly in early trading.

The drug, Adhulem which is scientifically known as aducanumab, was approved by the Food and Drug Administration in June.

The approval of the drug has been criticized by many experts and the head of FDA is now calling for a federal investigation looking into interactions between agency staff and the biotech company, reported CNBC.

Dr. Al Sandrock, Biogen’s top research chief, on Thursday took a stand for the drug in an open letter   saying the approval of the drug has been subject to “extensive misinformation and misunderstanding.”

“We welcome a formal review into the interactions between the FDA and Biogen on the path to the approval of aducanumab,” Sandrock said.

“A better understanding of the facts is good for everyone involved to assure confidence in both the therapy and the process by which it was approved as we prioritize the issues that affect patients.”

(With inputs from CNBC)

Picture Credits: CNBC