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Shares of Biogen (NASDAQ:BIIB) fell 0.3% in pre-market trading after the company reported Q2 results.
Quarterly Results
Earnings per share fell 44.64% over the past year to $5.68, which beat the estimate of $4.55.
Revenue of $2,775,000,000 decreased by 24.63% year over year, which beat the estimate of $2,610,000,000.
Guidance
Biogen raised the total revenue outlook for FY21 to $10.65 billion to $10.85 billion from prior guidance of $10.45 billion to $10.75 billion.
- Adjusted EPS outlook remains unchanged at $17.50 to $19.00, the mid-point being lower than the analyst consensus of $18.41.
Details Of The Call
Date: Jul 22, 2021
Time: 08:00 AM
ET Webcast URL: https://event.webcasts.com/starthere.jsp?ei=1479841&tp_key=5ec330783d
Recent Stock Performance
52-week high: $468.55
Company's 52-week low was at $223.25
Price action over last quarter: Up 22.61%
Company Description
Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva are marketed via a collaboration with Roche. Biogen also markets novel MS drugs Plegridy, Tysabri, Tecfidera, and Vumerity. In Japan, Biogen's MS portfolio is co-promoted by Eisai. Hemophilia therapies Eloctate and Alprolix (partnered with SOBI) were spun off as part of Bioverativ in 2017. Biogen has several drug candidates in phase 3 trials in neurology and neurodegenerative diseases and has launched Spinraza with partner Ionis. Aduhelm was approved as the firm's first Alzheimer's disease therapy in June 2021.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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