Biogen: raises annual targets

(CercleFinance.com) - On the sidelines of its quarterly publication, Biogen announces that it has raised its adjusted EPS target range for 2024 to between $15.
75 and $16.25, up around 9% on 2023, and now expects revenues to decline in only low single-digits.

It reports Q2 2024 adjusted EPS (non-GAAP) of $5.28, up 31% y-o-y, despite sluggish revenues of $2.46bn (+1% at constant exchange rates).

The biotech group's revenues from product sales rose 3% to $1.9bn, with a 22% increase in rare disease drug sales more than offsetting the 5% decline in multiple sclerosis drug sales.


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