Biogen Inc. (NASDAQ: BIIB) reported Q4 earnings of $1.99 per share, beating consensus of $1.59. Revenue was $2.28 billion, surpassing consensus of $2.20 billion. Fiscal 2025 growth product revenue increased by 19%, offsetting the decline in multiple sclerosis products. Leqembi collaboration revenue was $47 million with $134 million in in-market sales, up 54%.

Multiple sclerosis revenue declined by 14% to $917 million, with Tysabri sales down to $397.5 million. Rare disease revenue fell by 4% to $514.6 million, with Spinraza revenue decreasing to $356.2 million. Spinraza’s Q4 revenue dropped 15% year-over-year.

Skyclarys revenue reached $133.4 million, up from $102.2 million. Global patients on therapy grew by 30% in 2025. Zurzuvae’s Q4 revenue was $66 million, showing strong demand growth. Vumerity revenue grew by 3% to $181.1 million.

Biogen expects fiscal 2026 earnings between $15.25 and $16.25 per share, higher than consensus of $14.92. Revenue is projected to decline by mid-single digits, with multiple sclerosis product revenue expected to decrease by a mid-teen percentage. Biosimilars are anticipated to decline by low double-digit percentages.

The company forecasts roughly $300 million in contract manufacturing revenues in each half of 2026. Biogen’s CEO highlighted strong execution and financial discipline in 2025, with revenue from key products driving performance.

Read more at Yahoo Finance: Biogen Hits 52-Week High, Alzheimer’s Drug Sales Jump