Fortune Staff

This year’s Fortune 500 marks the 68th running of the list.

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The biotechnology company discovers and manufactures treatments for neurological and neurodegenerative diseases. It has recently garnered attention for its experimental Alzheimer’s drug, aducanumab.

Biogen Inc. (BIIB) Company Profile, News, Rankings | Fortune

legacy

Biogen

biogen

Matthew Perrone

The Associated Press

First-of-its-kind drug for rare form of Lou Gehrig’s disease gets FDA approval

/well/2023/04/25/fda-approves-biogen-galsody-injectable-lou-gehrigs-disease-als/

Alzheimer’s drug approval by FDA ‘rife with irregularities,’ Congress finds after 18-month investigation

/2022/12/30/alzheimers-drug-approval-by-fda-rife-with-irregularities-biogen-aduhelm/

Fiona Rutherford

Celine Castronuovo

Bloomberg

Congressional investigators say the FDA’s controversial approval of Biogen’s Alzheimer’s drug Aduhelm was ‘rife with irregularities’

/2022/12/29/congress-report-fda-approval-biogen-aduhelm-alzheimers/

Michelle Fay Cortez

Breakthrough Alzheimer’s trial results show experimental drug significantly slows the disease

/2022/09/28/breakthrough-alzheimers-trial-results-show-experimental-drug-significantly-slows-disease-biogen-eisai-lecanemab/

CEOs Predict the 2020s

Leadership

Advances in technology, world health, personalized medicine, and income equality are some of the ideas and hopes for the next ten years.

we're entering into a new decade. What do you see as the next big idea for the next decade? The next big idea And it is a big is that technology is going to allow us forget about the restraints of time. There are many changes that are happening, and I think the next big idea is going to be five or six of these changes together. Connected everything. So your health, your work, your office, your car, your data all will come together in the same place so you can use it. Weathers, Hyperloop, speedier planes, autonomous vehicles and the technology. Artificial intelligence is just gonna allow us to be ableto have inventory in tow. Have product much quicker than we ever have before. I change. They are. And we are the fact that machines can understand language and understand images and emotions on five g. Bring all that together will make the ability to actually create a human somewhere in the world. Really time where actually there is no such the thing. We're not talking about his quantum computer. It allows for more access and more speed and everything that we do. It enables genetic sequencing and enables D N a. Testing faster and faster to help people think about reliving their lives in a much more healthier, more productive way. This is the decade were personalized. Nutrition will come to fruition in a very convenient way. You'll be able to tell what is your ideal food and drink for dinner based on what he had for lunch and breakfast. If you choose to follow it, there you are, one for all. Let's move away from the sea for sorry in medicine, in medical practice and let's think about population health. It is conceivable, but 2030 patients will have their own relationship with them that it'll have been designed for them for their disease. They'll be munching it themselves. It will be a very personal N equals one relationship that is unimaginable now and could be every day for 22. But I would like to see is a very substantial reduction in inequality of income across the planet. That's something we can tangibly do it Cos 10 years from now I'm hoping and putting all my efforts words that we're not talking about diversity because we believed equity across the world across the board, and we don't have to focus or talk about it. I don't even think we can imagine what the potential is gonna be in 10 years from now. We just have to follow the technology and lead the way, and we're gonna be able to take care of our customers in ways that we never could have imagined before.

[MUSIC PLAYING] Michel, you surprised a lot of people recently when you announced once again that you were going to ask the FDA, the Food and Drug Administration, to approve a drug to treat Alzheimer's. And the reason why everybody was so shocked was that it was only in March that you pulled the drug because you didn't think it was going to work. Now you're saying that there's a good chance that you do have a cure. So what new information can you tell us now? When you touch new frontiers of pioneering in science, you don't find the first day the clear answer. So the new information is basically a much larger data set of subject exposed to higher dose of aducanumab in a sufficient and sustained manner. Twice as many patients as being conducted as being analyzed doing the futility analysis. This has led to the turnaround in terms of hope and engagement with scientific leaders and with the USFDA. So there's a lot of hope that this drug, which you call aducanumab, is going to work. But there's also plenty of skepticism. What are the chances that people who have early stage Alzheimer's will really benefit from this drug? What the latest data show is that the product delivers what it's supposed to deliver, which is basically to remove the plaque of beta-amyloid that is accumulating in the brain over a couple of decades. In approximately 18 months, it removes the plaque. And this is also correlated with the slowing down of the cognitive decline. This is significant. Well, it's very interesting that there are so many other big pharma companies that have discontinued their research in this. You look at Pfizer. They pulled out. Novartis and Amgen, Eli Lilly and AstraZeneca, they've closed their programs. What is it that you're seeing that they're not seeing? Well, first, I would like to say that you see many companies running away from that space. And why? Because it's probably seen as being very risky and complex. So on the contrarian move, if I may, Biogen is dedicating 100% of our R&D investment in that space, where the people need the specialization, the qualification, and the professionalism of Biogen in order to deliver. This is our commitment. However, we have to be modest, humbled, and follow the regulatory process now and wait before we celebrate. But there is hope. I am impressed and amazed. How do you have the courage to continue with this research, given that the chances are slim that it's going to all work? It's high risk, but huge reward. Do your Biogen employees and scientists feel the same way that you do? I mean, how much did you have to motivate them to return to the Alzheimer's research and to search for a cure? I didn't have to do much. Persistence, passion, heart, and brain coming together to serve the population need. The organization is engaged. The organization has a very strong and unique purpose. So let's say that this drug does get the OK from the regulators. How much will it cost to treat someone who has Alzheimer's? It's far too early to speak about the cost. I'm confident that we'll be able to partner with a public payer in order to define, to design the best innovative way in order to treat the larger population. This will be a big day. This is what is driving me. This is my mission in life. Well, it will certainly be a blockbuster drug if it all goes well for Biogen. But it does come back to the price. All of these breakthrough drugs are expensive. And I'm guessing that this one will be, too. And so the big question is, will insurance companies cover the costs for people who really need this drug? Have you had any preliminary conversations with insurance companies and to get their input? This will take, I will say, multi-party and engagement with authorities. And the company and its leadership will be open to innovative contracting in order to treat the larger population. And I will do everything I can in order to disrupt from the old models of fee for service that have certainly demonstrated the limitation in terms of treating the broader population. So let me talk to you about the flipside. If this blockbuster drug doesn't become reality for Biogen, what's your plan B? The plan B is to continue to invest in Alzheimer's. Because we have other programs. Today we have neuromuscular disease. We have movement disorder and Parkinson, for which there was no true innovations since more than 10 years. We are stroke. We are on the back of the eye, the retina. We are on the neurological pain. So we have a portfolio that is much more broad, but within one space, which is neuroscience. You've been the CEO of Biogen almost three years now. What is your mission and vision for the company? The unparalleled and unmatched leader in neuroscience. To have met unmet medical need in Alzheimer's, in Parkinson's, in ALS, this would be a big day. 

Biogen CEO on Controversial Alzheimer's Drug: "There Is Hope"

Health

If approved, it will require new payment innovations.

Biogen CEO on Controversial Alzheimer's Drug

CEO Michel Vounatsos says if the drug is approved it will require new payment innovations to make it affordable for the people who need it.

Michelle. You surprised a lot of people recently when you announced once again that you're going to ask the FDA, the Food and Drug Administration to approve a drug to treat Alzheimer's. And the reason why everybody was so shocked was that it was only in March that you pulled the drug because you didn't think it was gonna work. Now you're saying that there's a good chance that you do have a cure. So what new information can you tell us now? You know, when you touch new from tears off, pioneering in science, you don't find the first day Brooklier answer. So the new information is basically a much larger data set off subject exposed to hire those off Magic candy Mob in a Sufi shut and sustained manner twice as many patients as being conducted as being analyzed during the pretty generous he's. This has led to the turnaround in terms off hope and engagement with scientific leaders and with the U. S. A year. So there's a lot of hope that this drug would you call it a condom up is gonna work. But there's also plenty of skepticism. What are the chances that people who have early stage Alzheimer's will really benefit from this drug. What the latest data show is that the product delivers what is supposed to deliver, which is basically to remove the plaque off Beata Mil a week that is actually waiting in the brain over a couple of decades. In approximately 18 months. It removes the plaque, and she's also correlated with the slowing down off the cognitive decline. This is significant. Well, you know, it's very interesting that there are so many other big pharma companies that have discontinued their research. And then you look at five. Sir, they pulled out Novartis and Amgen, Eli Lilly and AstraZeneca. They closed their programs. What is it that you're seeing that they're not saying? Well, first, I would like to say that you see many companies running away from that space. And why? Because he probably seen as being very risky and complex. So, on the contrary, in movie, if I may, Biogen educate dedicating 1% of R and D investment in that space where the people need the specialization, the qualification, the professionalism off Biogen in order to deliver. This is our commitment. However, we have to be more rest, humbled and for the regulatory process now and wait before we celebrate. But there is hope. I am impressed and amazed. How do you do? You have the courage to continue with this research, given that the chances are slim that it's gonna all work out. It's high risk, but huge rewards. Do your Biogen employees and scientists feel the same way that you do? I mean, how much did you have to motivate them to return to the Alzheimer's research and to search for a cure? I didn't have to do much assistance. Passion, heart and brain coming together to serve the population need The organization is engaged. The organization has a very strong and unique purpose. So let's say that this drug does get the okay from the regulators. How much will it cost to treat someone with Often, it's far too early to speak about the cost. I'm confident that we'll be able to partner with the public player in order to define to design the best innovative way in order to treat the larger population. This will be a big day. This is what is driving me. This is my mission in life. Well, it would certainly be a blockbuster drug if it all goes well for Biogen. But it does come back to the price. All of these breakthrough drugs are expensive, and I'm guessing that this one will be, too. And so the big question is, will insurance companies cover the costs for people who really need this drug? Have you had any preliminary conversations with insurance companies? And to get there input this week, take, I will say, my tea party, an engagement with authorities and the company and its leadership will be open toe innovative contracting in order to treat the larger population. And that will do everything I can to disrupt from the old models off for service. That has certainly demonstrated a limitation in terms of treating the broader population. So let me talk to you about the flip side. If this blockbuster drug doesn't become reality for Biogen, what's your Plan B. Plan B. To continue to invest in Alzheimer's? Because we have all the programs today? We know Mr Disease, we have movement is older and back concern for which there was no true innovation. In more than 10 years, we are struck. We are on the back of the either. Regina, we are on the hook. Neurological pain. So we have a portfolio that is much more broad, but within one space, which is neuroscience. You've been the CEO of Bajan almost three years now. What is your mission and vision for the company? The entire L l and and much leader in neuroscience toe have met unmet medical need in Alzheimer's in Parkinson. In a less this would be a big day.

Biogen

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