Biogen Boosts Profit Forecast with Growth Across Alzheimer's, Rare Disease Portfolio
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The Alzheimer's drug maker reported revenues of $2.736 billion, beating the consensus of $2.458 billion, up 3% on a reported and 2% on a constant currency basis. Spinraza revenue of $402 million, up 2% year-over-year, driven by demand and stocking for the high-dose regimen, partially offset by shipment timing in certain ex-U.S. markets; conversion to the high-dose regimen has been ahead of company expectations in all launched geographies. Vumerity revenue of $197 million, down 7% year-over-year, primarily impacted by inventory dynamics; first half growth of 7% year-over-year. Leqembi (Alzheimer's drug) revenue was $184 million, with U.S. in-market sales of around $97 million. Revenues from Skyclarys (Friedreich's ataxia drug), acquired via the Reata acquisition, reached $168 million, up 29%. Zurzuvae's (postpartum depression drug) revenue of $71 million, up 53%, was driven by demand growth. Biogen completed the acquisition of Apellis, adding Syfovre and Empaveli to its portfolio, which contributed $128 million in revenue and are expected to grow in the mid- to high-teens through 2028. The company raised its fiscal 2026 adjusted earnings guidance from $15.25-$16.25 to $15.85-$16.85, compared to the consensus of $12.83. Full-year total revenue is now expected to increase by a mid-single-digit percentage for 2026 vs. 2025. Biogen also shared Phase 2 data for BIIB091 in...
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