Biogen beats quarterly estimates as newer drugs fuel growth

Reuters

Wed, July 29, 2026 astatine 5:03 AM CDT 2 min read

July 29 (Reuters) - Biogen reported second-quarter nett and gross that topped Wall Street estimates connected Wednesday, driven by beardown request ‌for its rare-disease medicines, portion income of its bequest aggregate ‌sclerosis drugs stayed nether pressure.

Investors are intimately watching whether caller deals and newer products ​including its Alzheimer's cause Leqembi tin reignite maturation and assistance the institution navigate mounting contention and pricing unit crossed its aging aggregate sclerosis portfolio.

Despite an upbeat quarter, Biogen chopped its 2026 adjusted per-share nett forecast to ‌between $12 and $13 from betwixt $14.25 ⁠and $15.25 per stock earlier, reflecting a $3.85 per stock interaction from acquisition-related charges.

Analysts were expecting 2026 nett of $12.72 per ⁠share, according to information compiled by LSEG.

The drugmaker said its $5.6 cardinal buyout of Apellis Pharmaceuticals earlier this twelvemonth would relationship for an 85-cent-per-share deed ​to yearly ​profit.

The deal, Biogen's largest since its ​2023 buyout of Reata Pharmaceuticals, ‌gave it a foothold successful kidney illness attraction and entree to 2 approved uncommon illness drugs, which generated a combined gross of astir $689 cardinal past year.

Global income of Biogen's Alzheimer's cause Leqembi, developed with Eisai, roseate 15% from a twelvemonth earlier to astir $184 cardinal arsenic request ‌gained traction aft aboriginal concerns implicit ​cost, efficacy and broadside effects tempered its ​launch.

Biogen expects caller U.S. approvals ​for a much convenient under-the-skin formulation of Leqembi to ‌drive diligent uptake.

On an adjusted ​basis, it earned $3.60 per ​share for the 4th ended June 30, compared with an anticipation of $2.95 per share.

Quarterly gross came successful astatine $2.74 billion, supra an ​estimate of $2.46 billion.

Sales ‌of bequest aggregate sclerosis drugs specified arsenic Tecfidera fell 13% ​to $963 cardinal compared to the erstwhile year.

(Reporting by Mariam Sunny ​in Bengaluru; Editing by Pooja Desai)