On December 1, 2021, in this image, the test tube is seen in front of the biological gene logo shown.
Ruvic Date | Reuters
Biological genes On Wednesday, revenue and profits exceeded expectations in the fourth quarter as its cost reductions showed progress and New Productsincluding its breakthrough Alzheimer’s treatment This issee growth.
But the biotech company’s guidance for the year missed Wall Street expectations. Biogen issued its full-year adjusted earnings outlook for 2025, at $15.25 to $16.25 per share, down to analysts’ expectations of $16.34 per share, according to LSEG. Biogen said this reflects a headwind of 35 cents per share for the Forex round trip.
Biogen expects revenue in 2025 to decline in 2025 as sales of its multiple sclerosis products decline. This part of the business has reject In several quarters, some of these therapies face general competition.
But Biogen hopes that Leqembi and its new rare disease and depression treatments can help offset sliding revenues this year.
According to StreetAccount estimates, Leqembi earned $87 million in revenue in the fourth quarter, including $50 million from U.S. analysts expect sales of the drug to be $67 million.
Leqembi, Biogen shared with Japanese pharmaceutical manufacturers Eisaibecoming the second drug that proves to win recognition in the United States in 2023. The launch of this treatment gradually progresses to other problems due to bottlenecks related to the requirements of diagnostic testing, the need for routine brain scans and the difficulty in finding a neurologist.
According to an LSEG survey of analysts, Biogen reported the fourth quarter report:
- Earnings per share: $3.44 adjusted with $3.35 per share expectations
- income: $2.46 billion vs. $2.4 billion expected
Biogen booked $2.46 billion in sales in the quarter, up 3% from full-year sales.
Drugmakers’ net income for the quarter was $266.8 million, or $1.83 per share. By comparison, net income a year ago was $249.7 million or $1.71 per share.
Adjusting for one-time items, including certain restructuring expenses and costs associated with intangible assets, the company reported revenue of $3.44 per share.
Biogen launched a cost-cutting program for the first time in 2023. The company expects to generate $1 billion in total savings or $800 million in net savings by the end of 2025.
Also on Wednesday, Royalty Pharma announced a deal to provide Biogen with $250 million in research and development funding for Biogen for Litifilimab, a key drug under investigation that is being studied to treat lupus. Royalty Pharma, a leading funder in the biotechnology and pharmaceutical industry, will be eligible for regulatory milestones and certain royalties.
Other new medicines
Another new drug, Skyclarys booked $102 million in sales in the fourth quarter, almost double the annual period reported.
Analysts expect sales in the quarter to be about $112 million, according to StreetAccount data.
Skyclarys comes from Biogen’s acquisition of Reata Pharmaceuticals in July 2023. 2023 Food and Drug Administration Greenlit Skyclarys is the first approved treatment for Friedreich’s ataxia, a rare hereditary degenerative disease that can cause rare inheritance in children under 5 years of age Degenerative disease.
Zurzuvae was the first pill for postpartum depression, producing $22.9 million in sales in the fourth quarter. StreetAccount estimates analysts are expected to post $26 million in sales.
Meanwhile, Biogen’s fourth-quarter sales fell 8% to $1.07 billion from multi-sclerosis treatment.
Correction: Biogen’s fourth-quarter sales fell to $1.07 billion from multi-sclerosis treatment. Earlier versions incorrectly illustrate this period.
