Biogen's beats on earnings, says it's also brought in $2 million in sales of Alzheimer's drug

3 months ago 31
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Shares of Biogen BIIB, +0.15% gained 1.6% successful premarket trading connected Thursday aft the institution bushed expectations for the 2nd 4th and disclosed that it's already sold $2 cardinal of its new, arguable Alzheimer's illness drug. Biogen had net of $448.5 million, oregon $2.99 per share, successful the 2nd 4th of 2021, compared to $1.5 billion, oregon $9.59 per share, successful the aforesaid 4th a twelvemonth ago. Adjusted EPS were $5.68, against a FactSet statement of $4.55. Revenue was $2.7 cardinal for the quarter, down from $3.7 cardinal successful the 2nd 4th of 2020. The FactSet statement was $2.6 billion. Biogen cited a 24% diminution of gross successful its aggregate sclerosis portfolio for the quarter; Tecfidera sales, for example, tumbled to $578.5 cardinal for the quarter, compared with $1.19 cardinal successful the aforesaid 4th a twelvemonth ago. Biogen said its precocious approved Alzheimer's cause Aduhelm brought successful $2 cardinal successful gross during the 4th adjacent arsenic questions persist astir the regulatory process that led to approval. The institution updated its guidance for the year, present saying it expects gross of $10.65 cardinal to $10.85 billion, alternatively of $10.45 cardinal to $10.75 billion. Biogen's banal is up 31.9% truthful acold this year, portion the broader S&P 500 SPX, +0.82% is up 15.1%.

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