Biogen: 8% increase in quarterly EPS

(CercleFinance.com) - Biogen reports adjusted EPS (non-GAAP) of $3.
67 for Q1 2024, up 8% y-o-y, despite revenues that fell 7% to $2.29bn (both as reported and at constant exchange rates). NB: pmt +6.2%.

The biotech group's revenues from product sales fell 3% to $1.71bn, with declines of 4% in its multiple sclerosis and rare disease franchises, although a 2% rise in biosimilars.

Biogen still forecasts 2024 adjusted EPS of $15 to $16, up around 5% on 2023, with revenues down in the low to mid-single-digit percentage range.


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