Biogen CEO Michel Vounatsos Talks Alzheimer's Treatment Approval

Biogen Inc BIIB CEO Michel Vounatsos appeared Monday on CNBC's "Power Lunch" to discuss the company's FDA approval announcement. 

What Happened: Biogen announced the FDA granted accelerated approval for the company's Aduhelm treatment as the first and only Alzheimer’s disease treatment to address a defining pathology of the disease by reducing amyloid beta plaques in the brain.

“This historic moment is the culmination of more than a decade of groundbreaking research in the complex field of Alzheimer’s disease. We believe this first-in-class medicine will transform the treatment of people living with Alzheimer’s disease and spark continuous innovation in the years to come,” said Vounatsos.

The accelerated approval is viewed as controversial as some believe the clinical evidence doesn't sufficiently prove the product's efficacy.

Vounatsos On CNBC: Accelerated approval is a well-established approval pathway, Vounatsos said, adding that the company is extremely excited about it.

Biogen is committed to continuing to study the Aduhelm product, he told CNBC. 

After five years of research, the company is still finding new benefits of the product, so it expects to continue discovering beneficial aspects moving forward, Vounatsos said. 

The current price of the drug is set at $56,000 per year, he noted, adding that the company has committed to refrain from increasing prices over the next four years. 

See Also: Why Biogen's Stock Is Soaring Today

BIIB Price Action: Biogen was halted for pending news today before reaching a new 52-week high.

The stock was up 38.34% at $395.95 at market close Monday. 

I(mage by Free-Photos from Pixabay.)