Biogen Reports Strong Q2 Results, Exceeds Revenue and Earnings Expectations
Biogen (NASDAQ:BIIB) reported second-quarter results that beat Wall Street expectations as its growth portfolio drove revenue higher. The biotechnology company recorded $2.74 billion in revenue for the quarter—up 3% year-over-year—and surpassed Bloomberg's forecast of $2.47 billion. Adjusted earnings per share came in at $3.60, down from $5.47 a year ago but ahead of estimates. The Growth Portfolio became Biogen’s largest business segment with revenue rising 24% to $1.06 billion, outpacing its legacy multiple sclerosis franchise for the first time. Alzheimer's drug Leqembi saw global in-market sales increase by 15%, while other key products like Spinraza and Skyclarys also showed strong performance. Biogen raised its full-year earnings outlook to a range of $15.85–$16.85 per share, reflecting improved business performance despite some inventory-related declines in Vumerity sales.
Tickers: $BIIB
Topics: alzheimer's treatment biotech pharmaceuticals revenue growth