Biogen Expected to Lay Off More Than 1,000 Employees After Low Aduhelm Sales

Biogen is reportedly finalizing a restructuring plan that would cut more than 1,000 employees from its payroll in early 2022 — about 10 percent of its workforce.

The drugmaker has seen disappointing sales of its controversial Alzheimer’s drug Aduhelm (aducanumab). In late October, the company reported that the drug, which has a list price of $56,000 annually, only earned $300,000 since its debut in June.

Through its restructuring plan, Biogen is reportedly looking to reduce expenses between $500 to $750 million.

Biogen declined to comment on specifics, but a company spokesperson said the reports reference “a series of past confidential events largely told from the perspective of critics hiding under the cover of anonymity.”