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    BIIB   US09062X1037

BIOGEN INC.

(BIIB)
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Biogen Logs Smaller 1Q Profit, Revenue on Declining Drug Sales

04/22/2021 | 05:53am EDT

By Matt Grossman

Biogen Inc. on Thursday logged lower profit and revenue figures in the first three months of 2021 as sales of its medications declined.

The Cambridge, Mass.-based pharmaceutical company posted earnings of $2.69 a share, down from $8.08 a share in last year's first quarter. Total net earnings attributable to the company decreased to $410.2 million, from $1.4 billion in 2020's first quarter.

On an adjusted basis, Biogen's earnings were $5.34 a share in the quarter. Analysts were forecasting adjusted earnings of $4.97 a share, according to FactSet.

Revenue was $2.69 billion, down from $3.53 billion in 2020's first quarter. Analysts had expected revenue of $2.65 billion.

Product revenue declined to $2.21 billion, from $2.9 billion in the first quarter of 2020. Multiple-sclerosis revenue, including royalties from the Ocrevus drug, dipped by 26%, to $1.69 billion, while revenue from Spinraza, for spinal muscular atrophy, decreased by 8%, to $521 million.

Anti-CD20 therapeutic programs contributed $389 million of revenue, compared with $520.4 million a year earlier.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

04-22-21 0753ET

Stocks mentioned in the article
ChangeLast1st jan.
BIOGEN INC. 2.20% 279.8 Delayed Quote.13.69%
DJ INDUSTRIAL 1.33% 34032.76 Delayed Quote.11.97%
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Financials (USD)
Sales 2021 10 543 M - -
Net income 2021 2 084 M - -
Net Debt 2021 1 529 M - -
P/E ratio 2021 19,5x
Yield 2021 -
Capitalization 41 255 M 41 255 M -
EV / Sales 2021 4,06x
EV / Sales 2022 3,85x
Nbr of Employees 9 100
Free-Float 85,8%
Chart BIOGEN INC.
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Technical analysis trends BIOGEN INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 33
Average target price 288,45 $
Last Close Price 274,02 $
Spread / Highest target 67,1%
Spread / Average Target 5,27%
Spread / Lowest Target -42,7%
EPS Revisions
Managers and Directors
NameTitle
Michel Vounatsos Chief Executive Officer & Director
Michael R. McDonnell Chief Financial Officer & Executive Vice President
Stelios Papadopoulos Chairman
Alfred W. Sandrock Executive Vice President-Research & Development
Mark Hernon Chief Information Officer & Senior Vice President
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