Categories AlphaGraphs, Analysis, Health Care

Biogen’s Q4 results beat estimates; revenues up 7%

Biogen Inc. (BIIB) reported revenue and earnings that surpassed market expectations for the fourth quarter of 2018. The stock was up 1.16% in morning trade on Tuesday.

Total revenues grew 7% year-over-year to $3.53 billion, helped by a 4% increase in total product revenues.

Biogen fourth quarter 2018 earnings infographic
Biogen Q4 2018 Earnings Infographic

On a GAAP basis, the company swung to a profit during the quarter, reporting a net income of $947 million, or $4.73 per share, versus a net loss of $297 million, or $1.40 per share, in the same period last year. Adjusted net income grew 25% to $1.4 billion while adjusted EPS rose 33% to $6.99.

In multiple sclerosis, TECFIDERA registered a 3% growth in revenues while TYSABRI remained flat compared to the year-ago period. Channel inventory levels in the US grew by around $115 million for TECFIDERA, AVONEX, PLEGRIDY and TYSABRI combined.

Also see: Biogen Q4 2018 Earnings Conference Call Transcript

In spinal muscular atrophy, SPINRAZA revenues grew 30% year-over-year to $470 million. On a sequential basis, the number of commercial patients receiving SPINRAZA grew around 9% in the US and around 18% internationally. In other product revenues, biosimilars posted a 28% growth on a year-over-year basis.

Biogen posts solid Q3 results, topping expectations

Michel Vounatsos, Biogen’s CEO said, “We have shown strong momentum in building depth in our core growth areas beyond Alzheimer’s disease, as we continue to build multiple franchises within neuroscience. The positive data for BIIB067 in SOD1 ALS highlight the potential to leverage groundbreaking science to address previously untreatable diseases and exemplifies our strategy to build depth in neuromuscular diseases and movement disorders. Over the next 12-18 months, we expect to have several important data readouts across clinical programs in multiple sclerosis, progressive supranuclear palsy, and Alzheimer’s disease.”

For the full year of 2019, Biogen expects revenue to be approx. $13.6 billion to $13.8 billion. GAAP EPS is expected to be $26.65 to $27.65 while adjusted EPS is expected to be $28-29.


Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

One thought on “Biogen’s Q4 results beat estimates; revenues up 7%

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment

Viewing Highlight