From CNBC: 2024-04-24 10:26:32

Biogen announced first-quarter profit exceeding estimates, driven by cost-cutting and higher sales of Alzheimer’s drug Leqembi, which brought in $19 million, surpassing expectations. The number of patients on the therapy nearly tripled since 2023. Despite bottlenecks, Biogen expects growth in patient numbers. The company also reported a 7% decline in revenue.

Biogen also reported revenue from newly launched drugs like Skyclarys and Zurzuvae. Skyclarys, approved for Friedreich’s ataxia, generated $78 million in sales. Biogen is seeing positive uptake of Skyclarys, with over 1,100 patients in the U.S. taking the drug. Sales of Zurzuvae, the pill for postpartum depression, reached $12 million.

Sales of Biogen’s multiple sclerosis products dropped 4% in the first quarter. Tecfidera revenue was $254.3 million, while Vumerity generated $127.5 million. Spinraza, used to treat spinal muscular atrophy, recorded $341.3 million in sales. The company’s biosimilar drugs reported $196.9 million in sales, slightly up from the previous year.



Read more at CNBC: Biogen (BIIB) earnings Q1 2024