Recap: Biogen Q1 Earnings

Shares of Biogen BIIB moved higher by 1.4% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were down 41.58% year over year to $5.34, which beat the estimate of $5.04.

Revenue of $2,694,000,000 declined by 23.77% from the same period last year, which beat the estimate of $2,650,000,000.

Outlook

The upcoming fiscal year's EPS expected to be between $17.50 and $19.00.

The upcoming fiscal year's revenue expected to be between $10,450,000,000 and $10,750,000,000.

How To Listen To The Conference Call

Date: Apr 22, 2021

Time: 08:00 AM

ET Webcast URL: https://event.webcasts.com/starthere.jsp?ei=1445214&tp_key=228243bbf0

Technicals

52-week high: $363.92

52-week low: $223.25

Price action over last quarter: Up 2.29%

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.