Biogen Inc

+6.66 (+3.45%)
Officer Changes, Restructuring / Reorganization, Other Pre-Announcement

Biogen Posts Q1 Non-GAAP EPS Of $3.62

Published: 05/03/2022 11:35 GMT
Biogen Inc (BIIB) - First Quarter Revenue $2,532 Million.
Qtrly GAAP Diluted EPS $2.06.
Qtrly Non-GAAP Diluted EPS $3.62.
Qtrly EPS Negatively Impacted by $0.76 Due to Aduhelm Inventory Reaffirms 2022 Financial Guidance.
Biogen Announces Chief Executive Officer Transition.
Biogen to Substantially Eliminate Commercial Infrastructure for Aduhelm; Biogen to Also Take Additional Cost-reduction Measures.
Announces Chief Executive Officer Transition.
Begun a Search for a New Chief Executive Officer.
Michel Vounatsos Will Continue to Serve As Chief Executive Officer and on the Co's Board of Directors Until His Successor is Appointed.
Qtrly Spinraza Revenue of $473 Million Decreased 9% Versus the Prior Year at Actual Currency and 6% at Constant Currency.
Expects to Continue Funding Certain Regulatory and Research and Development Activities for Aduhelm.
Biogen - Phase 3 Readout for Lecanemab is Expected in Fall of 2022, Co Committed to Working Closely With Eisai on the Potential Launch of Lecanemab.
Q1 Revenue View $2.50 Billion -- Refinitiv Ibes Data (analyst estimates).
Q1 Earnings per Share View $4.38 -- Refinitiv Ibes Data (analyst estimates).
FY2022 Earnings per Share View $15.44, Revenue View $9.87 Billion -- Refinitiv Ibes Data (analyst estimates).
Biogen - Elimination of Commercial Infrastructure Supporting Aduhelm, Other Cost Reductions Expected to Yield About $500 Million in Annualized Savings.