On February 12, 2025, Biogen Inc. reported its fourth-quarter 2024 financial results, with adjusted earnings per share (EPS) of $3.44, surpassing analyst expectations. The company's total revenue for the quarter was $2.46 billion, marking a 3% increase from the prior-year period. Net income for the quarter stood at $266.8 million.
Sales of the Alzheimer's treatment Leqembi generated $87 million in revenue for the fourth quarter, including $50 million in the U.S., exceeding analyst estimates of $67 million. Other new products also contributed, with Skyclarys booking $102 million in sales and Zurzuvae generating $22.9 million. However, sales from Biogen's multiple sclerosis (MS) treatments continued their decline, falling 8% to $1.07 billion.
Despite the Q4 beat, Biogen issued a full-year 2025 adjusted EPS outlook of $15.25 to $16.25 per share, which fell short of the $16.34 per share anticipated by analysts. The company attributed this lower guidance to a foreign exchange headwind of 35 cents per share and fierce competition for its MS drugs. Biogen expects its 2025 revenue to decline by a 'mid-single digit' percentage compared to 2024. Additionally, Royalty Pharma announced an agreement to provide $250 million in R&D funding to Biogen for litifilimab, a key drug in its lupus pipeline.
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