Biogen Revises Annual Forecast As Reata M&A And Alzheimer's Drug Expenses Hit Bottomline, Stock Slides

  • By Grand News Network
  • |
  • November 8, 2023

Biogen Inc (NASDAQ: BIIB) posted Q3 FY23 sales of $2.53 billion, beating the consensus of $2.39 billion, up 1% Y/Y and 3% at constant currency (CC).

Adjusted EPS of $4.36, down 9%, beating the consensus of $3.97.

Multiple sclerosis revenue of $1.16 billion decreased by 14% (down 12% CC). Multiple sclerosis drug Tysabri sales are down to $456.3 million from $505.5 million.

Spinraza's revenue of $448.2 ...

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