Biogen: Q3 Earnings Insights

Shares of Biogen BIIB rose 3% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share fell 3.60% year over year to $8.84, which beat the estimate of $8.13.

Revenue of $3,376,000,000 decreased by 6.22% year over year, which beat the estimate of $3,350,000,000.

Outlook

The upcoming fiscal year's EPS expected to be between $32.50 and $33.50.

The upcoming fiscal year's revenue expected to be between $13,200,000,000 and $13,400,000,000.

Conference Call Details

Date: Oct 21, 2020

Time: 08:00 AM

ET Webcast URL: https://event.webcasts.com/starthere.jsp?ei=1386720&tp_key=14ea20d180

Price Action

52-week high: $374.99

52-week low: $220.01

Price action over last quarter: down 2.34%

Company Profile

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.