July 29 (Reuters) - Biogen reported second-quarter profit and revenue that topped Wall Street estimates on Wednesday, driven by strong demand for its rare-disease medicines, while sales of its legacy multiple sclerosis drugs stayed under pressure.
Investors are closely watching whether recent deals and newer products including its Alzheimer's drug Leqembi can reignite growth and help the company navigate mounting competition and pricing pressure across its aging multiple sclerosis portfolio.
Despite an upbeat quarter, Biogen cut its 2026 adjusted per-share profit forecast to between $12 and $13 from between $14.25 and $15.25 per share earlier, reflecting a $3.85 per share impact from acquisition-related charges.
Analysts were expecting 2026 profit of $12.72 per share, according to data compiled by LSEG.
The drugmaker said its $5.6 billion buyout of Apellis Pharmaceuticals earlier this year would account for an 85-cent-per-share hit to annual profit.
#biogen #quarter #july
Investors are closely watching whether recent deals and newer products including its Alzheimer's drug Leqembi can reignite growth and help the company navigate mounting competition and pricing pressure across its aging multiple sclerosis portfolio.
Despite an upbeat quarter, Biogen cut its 2026 adjusted per-share profit forecast to between $12 and $13 from between $14.25 and $15.25 per share earlier, reflecting a $3.85 per share impact from acquisition-related charges.
Analysts were expecting 2026 profit of $12.72 per share, according to data compiled by LSEG.
The drugmaker said its $5.6 billion buyout of Apellis Pharmaceuticals earlier this year would account for an 85-cent-per-share hit to annual profit.
#biogen #quarter #july
3 months ago
