A test tube is observed in front of the biogen logo shown in this illustration taken on December 1, 2021.
Given ruvic | Reuters
Biogen On Wednesday, he published income and profits of the fourth quarter that exceeded expectations, since their cost cuts showed progress and new products, including their innovative Alzheimer's treatment, Leqembi, saw growth.
But the Biotechnology Company Guide for the current year lost the expectations of Wall Street. Biogen issued an adjusted profits from 2025 per year of $ 15.25 to $ 16.25 per share, which did not reach $ 16.34 per share that analysts anticipated, according to LSE. That reflects a wind against 35 cents per share, said Biogen.
Biogen expects income to decrease by a percentage of “average digit” in 2025 compared to 2024, since the sales of their multiple sclerosis products fall. That part of the business has decreased during several quarters since some of these therapies face generic competition.
But Biogen hopes that Leqembi, along with his new treatments of rare diseases and depression, help compensate for those sliding income this year.
Leqembi generated $ 87 million in revenues for the fourth quarter, including $ 50 million in American analysts who expected the medicine to reserve $ 67 million in sales, according to Streetacount estimates.
Leqembi, which Biogen shares with the Japanese drug manufacturer Eisai, became the second medication proven to delay Alzheimer's progression to gain approval in the US. UU. Cerebral scan and the difficulty of finding neurologists, among other topics.
This is what Biogen reported for the fourth quarter compared to what Wall Street expected, based on an LSEG analysts survey:
- Profit per action: $ 3.44 adjusted compared to $ 3.35 per expected action
- Revenue: $ 2.46 billion compared to $ 2.40 billion expected
Biogen reserved sales of $ 2.46 billion for the quarter, which has increased around 3% since the period of year and more.
The drug manufacturer registered a net income of $ 266.8 million, or $ 1.83 per share, for the quarter. That compares to the net income of $ 249.7 million, or $ 1.71 per share, during the same period of the previous year.
Adjusting the unique items, including certain restructuring positions and costs associated with intangible assets, the company reported profits of $ 3.44 per share.
Biogen first initiated a cost reduction program in 2023. The company expects to generate $ 1 billion in gross savings, or net savings of $ 800 million, at the end of 2025.
Also on Wednesday, Royalty Pharma announced an agreement to provide $ 250 million in research and development funds to Litifilimab, a key medicine in its pipe that is being studied to treat lupus. Royalty Pharma, a leader of the biotechnological and pharmaceutical industry, will be eligible for regulatory milestones and certain royalties.
Other new drugs
Another new drug, Skyclarys, reserved $ 102 million in sales for the fourth quarter, almost double what he reported in the period of year and more.
Analysts were waiting for sales of around $ 112 million for the quarter, according to Streetacount.
Skyclarys came from the acquisition of Biogen of Reata Pharmaceuticals in July 2023. The Food and Drug Administration Greenlit Skyclarys in 2023, which makes it the first approved treatment for Friedreich's ataxia, a rare inherited degenerative disease that can affect Walk and coordinate in children like 5 years.
Zurzuvae, the first pill for postpartum depression, generated sales of the fourth quarter of $ 22.9 million. Analysts expected to publish $ 26 million in sales, said Streetaccount estimates.
Meanwhile, sales of the fourth quarter of biogen of multiple sclerosis treatments fell 8% to $ 1.07 billion.
Correction: Sales of the fourth quarter of biogen of multiple sclerosis treatments fell to $ 1.07 billion. A previous version badly indicated the period.
