Biogen Exceeds Quarterly Estimates with Strong Performance from Newer Drugs
Biogen reported second-quarter results that exceeded Wall Street estimates, driven primarily by strong demand for its newer rare-disease treatments. The company's legacy multiple sclerosis drugs continued to face declining sales and competitive pressure. Despite the positive quarter, Biogen revised downward its 2026 adjusted per-share profit forecast due to acquisition-related charges from recent deals. The $5.6 billion acquisition of Apellis Pharmaceuticals is expected to impact annual profits by 85 cents per share but provides access to new markets in kidney disease treatment and rare diseases, which generated combined revenue of about $689 million last year. Sales for Biogen's Alzheimer’s drug Leqembi rose 15% year-over-year to approximately $184 million as demand increased following initial concerns over cost and side effects. Biogen reported adjusted earnings per share (EPS) of $3.60, surpassing the expected $2.95, while revenue reached $2.74 billion against an estimate of $2.46 billion.
Topics: Alzheimer's drug M&A impact pharmaceuticals rare diseases