Biogen’s Bold Bet on Its Pipeline
As the biotech industry converges on San Francisco for the annual JP Morgan Healthcare Conference, Biogen’s CEO Chris Viehbacher is sending a clear message: the company’s future success lies in its current pipeline, not in chasing after new deals.
A Shift in Focus
Viehbacher’s confidence stems from the strength of Biogen’s current lineup, including Leqembi, an amyloid-targeting Alzheimer’s drug, and BIIB080, an experimental drug targeting tau, a protein found in the brains of Alzheimer’s patients. “We are doubling down in Alzheimer’s,” the CEO emphasized, highlighting the company’s commitment to this area.
A Promising Trajectory
While Leqembi sales may not have met initial expectations, Viehbacher remains optimistic about its trajectory. The company is adjusting its marketing strategy to target newly-diagnosed patients, and news is expected this year on an FDA filing for subcutaneous Leqembi and its use as maintenance therapy.
Late-Stage Studies Underway
Biogen is also making progress with felzartamab in rare immune-related indications, including kidney transplant patients, and experimental lupus drugs. These late-stage studies demonstrate the company’s dedication to expanding its portfolio.
A Discerning Approach to Deals
Viehbacher acknowledged that finding valuable assets is challenging, and Biogen is taking a discerning approach to potential deals. “It is hard to find assets worth paying for,” he noted, citing high market premiums. Despite this, Biogen has “teams of people” scouting for opportunities at the healthcare conference.
A Year of Progress
Last year, Biogen’s teams reviewed 100 companies, resulting in two significant deals: a collaboration with Neomorph to explore molecular glue degraders and the acquisition of Human Immunology Biosciences. As the company looks to the future, Viehbacher’s confidence in Biogen’s pipeline is clear.
A New Narrative
While some analysts may believe Biogen needs additional revenue-generating deals to change its growth profile, Viehbacher disagrees. With a strong pipeline and a focused strategy, Biogen is poised to write its own narrative, one that doesn’t rely on chasing after deals.
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