Biogen faces tough questions over $56K-a-year price of newly approved Alzheimer's drug - CNBC

Some analysts and advocacy groups immediately questioned how the company could justify the price — about five times higher than expected — especially as medical experts continue to debate whether there's enough evidence that the drug actually works and the industry faces criticism over drug prices.

Biogen executives said the total price figure for the new treatment is "substantiated" by the value it is expected to bring to patients, caregivers and society.

The company said it currently has the capacity to provide 1 million patients with the drug annually, with more than 900 sites in the U.S.

That being said, executives said they are "open-minded" and suggested they could rethink the price as the company assesses demand over the next few years?

Biogen CEO Michel Vounatsos joined CNBC on Monday and said the drug's price will allow the company to further invest in its pipeline of medicines for other diseases.