Biogen Posts Just $300K Sales From Aduhelm In Q3, Though Earnings Beat Estimates - Biogen (NASDAQ:BIIB)

Biogen Inc BIIB has posted Q3 adjusted EPS of $4.77 ahead of the consensus estimate of $4.11, but quarterly profit fell around 53% Y/Y to $329.2 million on the continued competition for Company's flagship product, Tecfidera, a multiple sclerosis drug.
Sales of $2.8 billion came in slightly above the expected $2.7 billion. It decreased 18% Y/Y at actual and constant currency.
Multiple sclerosis revenue of $1.8 billion decreased 19% Y/Y. Spinraza sales of $444 million decreased 10% Y/Y at actual currency and 11% at constant currency.
Controversial Aduhelm revenue was $0.3 million. "The potential uptake of ADUHELM in the U.S. is delayed, but we continue to believe in its long-term potential," said Michel Vounatsos, Biogen's CEO.
The total sales numbers indicate that less than 100 Alzheimer's patients have received the drug, priced at $56,000 annually.
Biosimilars revenue of $203 million decreased 2% at actual currency and 4% at constant currency.
Outlook: Biogen raised FY21 revenue outlook to $10.8 billion - $10.9 billion from prior guidance of $10.65 billion - $10.85 billion, higher than the analyst consensus of $10.76.
The Company raised the adjusted EPS outlook to $18.85 - $19.35, better than earlier guidance of $17.50 - $19.00, compared to consensus of $18.61.
Price Action: BIIB shares are up 2.42% at $274.61 during the premarket session on the last check Wednesday.