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- Biogen Inc BIIB has posted Q2 sales of $2.59 billion, beating the consensus of $2.48 billion, down 7% Y/Y and 5% at constant currency (CC).
- Multiple sclerosis revenue, including royalties on sales of Ocrevus, of $1.72 billion decreased by 4% (down 3% CC).
- Spinraza’s revenue of $431 million decreased by 14% at actual currency (by 11% at CC).
- Aduhelm generated sales of a mere $0.1 million in Q2.
- Biosimilars’ revenue of $194 million decreased 4% versus the prior year at actual currency and increased 3% at constant currency.
- Multiple sclerosis drug Tysabri sales are down 1.5% to $516.2 million.
- Adjusted EPS of $5.25 was down from $5.58 a year ago, beating the consensus of $4.10.
- Guidance: Biogen raised FY22 sales guidance to $9.9 billion – $10.1 billion, up from $9.7 billion – $10 billion versus the consensus of $9.84 billion.
- The company expects adjusted EPS of $15.25-$16.75, up from $14.25-$16.00 compared to the consensus of $15.54.
- The increase in guidance is driven primarily by better-than-expected topline performance and continued cost management.
- Price Action: BIIB shares are down 0.24% at $219.74 during the premarket session on the last check Wednesday.
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