In this illustration on December 1, 2021, a test tube will be seen in front of the biogen logo displayed.
Ruvic Date | Reuters
Biogenic On Wednesday, income and profit achieved the expectations in the fourth quarter, which met the cost cuts progress and new products, including the treatment of Leqembi, in Alzheimer's treatment of Alzheimer's.
The guidance of the Biotech company for the current year missed the expectations of Wall Street. Biogen gave an adjusted profit outlook of $ 15.25 to $ 16.25 per share, which the analysts no longer withdraw from $ 16.25 to $ 16.25 per share. This reflects a foreign exchange against 35 cents per share, said Biogen.
Biogen expects sales in 2025 compared to 2024 to drop by a “medium digit” process because the turnover of its multiple sclerosis products decreases. This part of the business has decreased in several quarters because some of these therapies have a generic competition.
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However, Biogen expects Leqembi to help with its new rare diseases and depression treatments to compensate for the income from gliding this year.
Leqembi achieved sales of 87 million US dollars in the fourth quarter, including Street Account estimates, including 50 million US dollars in the US analysts, expected the drug to book sales of US dollars.
Leqembi, which biogen shares with the Japanese drug maker Eisai, became the second medication that slowed Alzheimer's progress for approval in the United States in 2023. Due to bottlenecks in connection with diagnostic test requirements, the start of the therapy, the need for regular needs, he gradually found brain scans and the difficulty of finding neurologists.
Biogen reported in the fourth quarter compared to the expectations of Wall Street, based on a survey of LSEG analysts:
- Win each share: 3.44 USD adapted compared to USD 3.35 per share
- Revenue: 2.46 billion US dollars expected compared to 2.40 billion US dollars
Biogen booked sales of $ 2.46 billion for the quarter, which rose by around 3% compared to the same period in the previous year.
The drug maker achieved a net profit of $ 266.8 million or $ 1.83 per share for the quarter. This is compared to a net result of $ 249.7 million or $ 1.71 per share for the same period last year.
Adaptation to one -off elements, including certain restructuring costs and costs associated with intangible assets, the company reported a profit of USD 3.44 per share.
Biogen initiated a cost reduction program for the first time in 2023. The company expects gross savings of $ 1 billion or net savings of $ 800 million by the end of 2025.
Also on Wednesday, Royalty Pharma announced an agreement to provide research and development financing of 250 million US dollars for Biogen for Litifilimab, a key medication in his pipeline that is examined for the treatment of lupus. Royalty Pharma, a leading sponsor of Biotech and the pharmaceutical industry, can be entitled to regulatory milestones and certain license fees.
Other new drugs
Another new medication, Skyclarys, booked sales of $ 102 million and twice as high for the fourth quarter as in the same period.
According to StreetCcount, analysts had a turnover of around 112 million US dollars for the quarter.
Skyclarys came from the acquisition of Biogen from Reata Pharmaceuticals in July 2023. The Greata -Skyclarys from Food and Drug Administration in 2023 caused the first approved treatment for Friedreich's Ataxia, a rare inherited degenerative disease that walked and coordination in children as a young children.
To the Zuvae, the first pill for postpartum depression, achieved sales with $ 22.9 million in the fourth quarter. Analysts had expected the turnover of 26 million US dollars to be achieved, said Street Account.
In the meantime, the turnover of biogen in the second quarter of multiple sclerosis treatments fell 8% to $ 1.07 billion.
