Biogen and Eisai Revise Alzheimer’s Collaboration Agreement to Optimize Commercialization of Aduhelm and Lecanemab

On March 14, Biogen/Eisai announced a revision to their current collaboration agreement regarding the new Alzheimer's drug Aduhelm (aducanumab-avwa). Starting from January 1, 2023, Eisai will receive tiered royalties from Biogen based on net sales, whereas previously Eisai shared in the sales profits and losses of Aduhelm with Biogen. Eisai’s revenue-sharing percentage starts at a minimum of 2%, gradually increasing, and can reach up to 8% once annual Aduhelm sales exceed $1 billion.

Effective immediately, Biogen will independently handle the development decisions and commercialization of Aduhelm starting from March 14. However, throughout 2022, the financial terms of the collaboration between both parties on Aduhelm will remain unchanged, with Eisai continuing to share the development, commercialization, and production costs of Aduhelm as per the previous agreement.

For another Aβ monoclonal antibody, lecanemab, the global collaboration between Biogen and Eisai remains largely unchanged. Eisai continues to lead the global development and registration of lecanemab, with both parties jointly responsible for the commercial promotion of lecanemab, while Eisai retains the final decision-making authority. The two companies share the development costs of lecanemab, and Eisai is responsible for reporting the commercial sales performance of lecanemab, with Biogen's financial data reflecting only its shared 50% profit or loss. Biogen is responsible for the production of lecanemab, and the supply agreement with Eisai has been extended from 5 years to 10 years.

Both parties unanimously believe that the revision of the Alzheimer's disease cooperation agreement will enhance operational efficiency and maximize the commercial value of Aduhelm and lecanemab.

According to Biogen's financial report, the global sales of Aduhelm in 2021 were only 3 million US dollars. Lecanemab received the FDA's Breakthrough Therapy Designation in June 2021 and was granted Fast Track designation by the FDA in December 2021.