Biogen, having ‘lost its way,’ looks to drug launches for Alzheimer’s and depression for return to growth

Biogen’s sales and profit will decline this year, but the commercial launches of an Alzheimer’s treatment and a new medicine for depression are expected to help the company return to growth, newly appointed CEO Chris Viehbacher said Wednesday.

Stelios Papadopoulos, the longtime chairman of Biogen’s board, will also be stepping down this year due to the company’s mandatory retirement age policy, Viehbacher said.

Total revenue for 2023 will decline by “mid-single digits” versus 2022 revenue of $10.17 billion, Biogen said in its earnings report.

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