MW Biogen's soft guidance and a decline in sales at MS portfolio weigh
Biogen Inc.'s stock $(BIIB)$ fell 0.6% early Wednesday, after the biotech beat fourth-quarter earnings estimates but offered guidance that lagged consensus.
Cambridge, Mass.-based Biogen had per-share earnings of $1.83 for the quarter, up from $1.71 a year ago. Adjusted for one-time items, EPS came to $3.44, ahead of the $3.35 FactSet consensus.
Revenue rose 3% to $2.455 billion and was also ahead of the $2.408 billion FactSet consensus.
Sales of the company's Alzheimer's disease treatment Leqembi came to about $87 million, ahead of the $67 million FactSet consensus. But sales of the core multiple sclerosis portfolio fell 7% to $1.070 billion.
The company is now expecting 2025 EPS to range from $15.25 to $16.25, below the $16.33 FactSet consensus. Revenue is expected to decline by a mid-single-digit percent on a constant currency basis.
(This is a breaking news story. Check back for updates)
-Ciara Linnane
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February 12, 2025 07:06 ET (12:06 GMT)
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