A growing number of patients are using Leqembi, a drug used to treat Alzheimer’s, according to maker Biogen (Nasdaq: BIIB).
The company cited Alzheimer’s Network registries and noted there were about 3,800 patients on the drug as of last week, representing a 56% increase to that total from December, management noted during Biogen’s fourth-quarter earnings call this week.
“We are clearly seeing that there is demand for the product,” said Biogen CEO Chris Viehbacher earlier this week during the company’s fourth-quarter 2023 call with investors and analysts.
Leqembi is among a range of tools and treatments now being used to delay the onset of Alzheimer’s disease. But the process of developing these treatments has not been without friction.
Biogen was also the maker of another Alzheimer’s drug, Aduhelm, which it abandoned in January after years of scrutiny and controversy over its FDA approval and potential side effects.
Although use of Leqembi is growing, analysts cited in a recent Reuters report did not believe the company was on track to have 10,000 patients taking the drug by March.
“So the debate is all about: is Leqembi that massive $6 billion plus product, or is it something that’s going to remain niche?” William Blair Analyst Myles Minter told Reuters.
Looking ahead, the company has plans to grow its total U.S. “field force” selling the drug by about 30%.
“Everywhere we look with Leqembi, we are making solid progress,” Viehbacher said. “We have always guided investors to the fact that this would be a progressive ramp.”
