By Denny Jacob
Biogen posted higher-than-expected revenue in its fourth quarter with sales from various products contributing to the top-line.
The biotechnology pioneer on Wednesday said it logged net income of $266.8 million, or $1.83 a share, compared to $249.7 million, or $1.71 a share, a year earlier.
Stripping out certain one-time items, earnings came in at $3.44 a share. Analysts polled by FactSet expected $3.35 a share in adjusted earnings.
Revenue rose to $2.45 billion from $2.39 billion. Analysts expected $2.41 billion.
Biogen said revenue from product launches continued to offset year-over-year declines in multiple-sclerosis product revenue.
The Cambridge, Mass., company forecast revenue in 2025 to decline by a mid-single-digit percentage at constant currency compared with 2024. Biogen also guided for full-year adjusted earnings per share of between $15.25 and $16.25; analysts expected $16.33 a share in adjusted earnings.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 12, 2025 07:23 ET (12:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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