Story perspectives

Biogen Beats Revenue Expectations Amid MS Decline

2/6/2026

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Summary

Story summary

Biogen Inc. reported fiscal 2025 revenues of $2.28 billion, above expectations of $2.20 billion, despite a 7% decline.
Growth products rose 19%, offsetting declines in multiple sclerosis (MS) products, which fell 14% to $917 million.
The Alzheimer's drug Leqembi generated $47 million in collaboration revenue, with in-market sales reaching $134 million, up 54%.
Biogen forecasts fiscal 2026 earnings per share of $15.25–$16.25, with MS revenue declines offset by growth elsewhere.

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Story summary

Biogen Inc. reported fiscal 2025 revenues of $2.28 billion, above expectations of $2.20 billion, despite a 7% decline.
Growth products rose 19%, offsetting declines in multiple sclerosis (MS) products, which fell 14% to $917 million.
The Alzheimer's drug Leqembi generated $47 million in collaboration revenue, with in-market sales reaching $134 million, up 54%.
Biogen forecasts fiscal 2026 earnings per share of $15.25–$16.25, with MS revenue declines offset by growth elsewhere.