Biogen (BIIB) reported 2nd Quarter June 2022 earnings of $5.25 per share on revenue of $2.6 billion. The consensus earnings estimate was $4.09 per share on revenue of $2.5 billion. The Earnings Whisper number was $4.13 per share. Revenue fell 6.7% compared to the same quarter a year ago.
The company said it expects 2022 earnings of $15.25 to $16.75 per share on revenue of $9.90 billion to $10.10 billion. The company's previous guidance was earnings of $14.25 to $16.00 per share on revenue of $9.70 billion to $10.00 billion and the current consensus earnings estimate is $15.55 per share on revenue of $9.83 billion for the year ending December 31, 2022.
Biogen Idec Inc, is a biopharmaceutical company. The Company discovers,
develops, manufactures and markets therapies for neurological, autoimmune and hematologic disorders.
Biogen Reports Second Quarter 2022 Results
- Second quarter revenue $2,589 million; GAAP diluted EPS $7.24; Non-GAAP diluted EPS $5.25
- FDA granted Priority Review for lecanemab in early Alzheimer’s disease under the accelerated approval pathway with a decision expected by January 6, 2023; Phase 3 data expected in the Fall of 2022
- Second Positive Phase 3 study further supports potential of zuranolone in postpartum depression (PPD); Joint U.S. regulatory filing for both major depressive disorder and PPD expected in the second half of 2022
- Biogen launches BYOOVIZ, the first biosimilar referencing LUCENTIS, in the U.S.
- Company raises full year 2022 financial guidance
Cambridge, Mass. – July 20, 2022 – Biogen Inc. (Nasdaq: BIIB) today reported second quarter 2022 financial results.
“We continued to execute on our near-term operational priorities in the second quarter and are pleased to be raising our financial guidance for the year. At the same time, we continue to face revenue declines due in part to generic and biosimilar competition for TECFIDERA and RITUXAN,” said Michel Vounatsos, Biogen's Chief Executive Officer. “We made important progress towards bringing new potential treatments to patients suffering from Alzheimer’s disease and depression, which we believe are critical steps on our path to drive value creation for both patients and shareholders over time.”
For the full earnings release, please go here.