Biogen (BIIB) reported 2nd Quarter June 2018 earnings of $5.80 per share on revenue of $3.4 billion. The consensus earnings estimate was $5.22 per share on revenue of $3.2 billion. The Earnings Whisper number was $5.36 per share. Revenue grew 9.0% on a year-over-year basis.
The company said it expects 2018 earnings of $24.90 to $25.50 per share on revenue of $13.0 billion to $13.20 billion. The company's previous guidance was earnings of $24.20 to $25.20 per share on revenue of $12.70 billion to $13.00 billion and the current consensus earnings estimate is $23.93 per share on revenue of $12.96 billion for the year ending December 31, 2018.
Biogen Idec Inc, is a biopharmaceutical company. The Company discovers,
develops, manufactures and markets therapies for neurological, autoimmune and hematologic disorders.
BIOGEN Q2 2018 REVENUES INCREASE 9% TO $3.4 BILLION
GAAP diluted EPS increased 3%; Non-GAAP diluted EPS increased 15%
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Cambridge, Mass., July 24, 2018 -- Biogen Inc. (Nasdaq: BIIB) today reported second
quarter 2018 financial results, including:
- Total revenues of $3.4 billion, a 9% increase versus the prior year.
o Multiple sclerosis (MS) revenues were $2.3 billion, including approximately
$113 million in royalties on the sales of OCREVUS®.
o Revenue growth was driven principally by SPINRAZA®, which contributed
$423 million in global revenues.
- GAAP net income and diluted earnings per share (EPS) attributable to Biogen Inc. of
$867 million and $4.18, respectively, compared to $863 million and $4.07 in the second
quarter of 2017, respectively.
o In the second quarter of 2018 GAAP net income and diluted EPS were impacted
by $589 million and $2.84, net of tax, respectively, related to the new
collaboration agreement with Ionis Pharmaceuticals, Inc. (Ionis), the acquisition
of BIIB104 from Pfizer Inc., the option payment to Neurimmune SubOne AG
(Neurimmune) to further reduce royalty payments on potential commercial sales
of aducanumab and the option agreement with TMS Co., Ltd. (TMS).
o In the second quarter of 2017 GAAP net income and diluted EPS were impacted
by $447 million and $2.11, net of tax, respectively, related to the asset purchase
agreement with Remedy Pharmaceuticals Inc. for BIIB093 and the license
agreement with Bristol-Myers-Squibb Company (BMS) for BIIB092.
- Non-GAAP net income and diluted EPS attributable to Biogen Inc. of $1.2 billion and
$5.80, respectively, compared to $1.1 billion and $5.04 in the second quarter of 2017,
o In the second quarter of 2018 Non-GAAP net income and diluted EPS were
impacted by $314 million and $1.52, net of tax, respectively, related to the new
collaboration agreement with Ionis and the option agreement with TMS.
o In the second quarter of 2017 Non-GAAP net income and diluted EPS were
impacted by $331 million and $1.56, net of tax, respectively, related to the
license agreement with BMS for BIIB092.
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