Biogen reported fourth-quarter revenue and profit that exceeded expectations, driven by cost-cutting measures and the success of new products, including its Alzheimer's treatment Leqembi. However, the company's full-year 2025 earnings outlook fell short of Wall Street forecasts. Biogen anticipates revenue decline due to falling multiple sclerosis product sales, but expects Leqembi and new treatments for rare diseases and depression to offset this.
Biogen posted fourth-quarter revenue and profit that topped expectations as its cost cuts showed progress and new products, including its breakthrough Alzheimer's treatment Leqembi, saw growth.
Leqembi generated $87 million in revenue for the fourth quarter, including $50 million in the U.S. Analysts had expected the drug to book $67 million in sales, according to estimates from StreetAccount., became the second drug proven to slow the progression of Alzheimer's to win approval in the U.S. in 2023.
The drugmaker posted net income of $266.8 million, or $1.83 per share, for the quarter. That compares with a net income of $249.7 million, or $1.71 per share, for the same period a year ago. Biogen first initiated a cost-cutting program in 2023. The company expects to generate $1 billion in gross savings, or $800 million net savings, by the end of 2025.
BIOTECH LEQEMBI ALZHEIMER's DISEASE EARNINGS REVENUE
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