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 only a decline in revenues 'in the low single-digit range'.

For the second quarter of 2024, it reports adjusted EPS (non-GAAP) of $5.28, up 31% year-on-year, despite sluggish revenues of $2.46 billion (+1% at constant exchange rates).

The biotech group saw revenues from product sales rise by 3% to $1.9 billion, with a 22% increase in rare diseases more than offsetting a 5% decline in multiple sclerosis.

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