Biogen: adjusted EPS down 23% in Q2

(CercleFinance.com) - Biogen reports Q2 sales of $2.
45bn, down 3% at constant exchange rates y-o-y.

Adjusted EPS came to $4.02 in Q2, down 23% y-o-y.

The laboratory recalls that it obtained two FDA approvals in Q2, for Alzheimer's disease and ALS (Charcot's disease).

The group says it will make significant investments in its new priority pipeline and new product launches. As a result, it will also have to invest less in other areas that are no longer growing. With such changes, Biogen will be better positioned to maximise its growth opportunities, it says.

Against this backdrop, the laboratory expects total sales to decline by around 5% in 2023, with FY adjusted EPS expected between $15 and $16.


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