Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. Biogen Inc.
  6. News
  7. Summary
    BIIB   US09062X1037

BIOGEN INC.

(BIIB)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Biogen : shares fall as Alzheimer's drug concerns cloud profit beat

04/22/2021 | 11:58am EDT
A sign marks a Biogen facility in Cambridge

(Reuters) - Biogen Inc beat estimates for quarterly profit on stronger-than-expected sales for its muscle wasting disorder drug, although concerns over its reliance on its yet-to-be approved Alzheimer's therapy, aducanumab, weighed on shares.

The drugmaker declined to provide details on talks with the U.S. FDA about the drug's product label, which analysts said could be interpreted as a slower-than-expected regulatory progress for the therapy.

Aducanumab, which could become a blockbuster quickly, if approved, has faced a bumpy regulatory road, with outside experts to the U.S. Food and Drug Administration voting against the treatment last year. The FDA is due to decide on the drug by June 7.

Biogen has been under pressure on multiple fronts, with its mainstay multiple sclerosis drug, Tecfidera, facing increasing competition from cheaper drugs, pushing the company to pin its future growth on the Alzheimer's drug.

"Should aducanumab fail to gain approval in June 2021, that would leave Biogen with little in the way of a contingency plan and heavier reliance on pipeline assets," Wedbush analyst Laura Chico said.

Critics argue that more data is needed to show the effectiveness of the drug but those in favor of an approval have pointed to the large unmet medical need for Alzheimer's disease.

The company reiterated that its 2021 forecast includes possible sales from the treatment and said 600 sites are ready to treat patients with the drug.

Sales of multiple sclerosis drug Tecfidera more than halved in the first quarter to $479.3 million and the company is also facing competition for its other growth driver, spinal muscular atrophy drug Spinraza.

The company's quarterly profit, however, beat estimates, as sales of Spinraza fell less than expected.

Excluding items, Biogen earned $5.34 per share, above expectations of $5.04.

The company's shares were down 3% at $261.5 in midday trading.

(Reporting by Mrinalika Roy and Manas Mishra in Bengaluru; Writing by Ankur Banerjee; Editing by Anil D'Silva and Sriraj Kalluvila)

By Mrinalika Roy and Manas Mishra


ę Reuters 2021
All news about BIOGEN INC.
05:58aBIOGENá : Working With Capsigen to Develop Gene Therapies for CNS, Neuromuscular..
MT
05/10BIOGENá : and Capsigen Announce Collaboration to Discover and Develop Novel AAV ..
AQ
05/03DENALI THERAPEUTICSá : Says Drug Candidate For Parkinson's Disease Found to be S..
MT
04/29BIOGENá : Says FDA Unable to Approve Application for Subcutaneous Administration..
MT
04/28Biogen Provides Regulatory Update on the Supplemental Biologic License Applic..
GL
04/28Biogen Releases 2020 Year in Review Demonstrating Its Commitment to Transpare..
GL
04/26BIOGENá : Notice regarding biogen's disclosure about the submission of marketing..
AQ
04/26BIOGENá : UBS Adjusts Biogen's Price Target to $311 From $307, Maintains Neutral..
MT
04/23BIOGENá : Reports First Quarter 2021 Results
AQ
04/23BIOGENá : RBC Adjusts Biogen's PT to $259 From $263, Citing Competition Headwind..
MT
More news
Financials (USD)
Sales 2021 10 543 M - -
Net income 2021 2 084 M - -
Net Debt 2021 1 529 M - -
P/E ratio 2021 19,8x
Yield 2021 -
Capitalization 41 913 M 41 913 M -
EV / Sales 2021 4,12x
EV / Sales 2022 3,92x
Nbr of Employees 9 100
Free-Float 85,5%
Chart BIOGEN INC.
Duration : Period :
Biogen Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
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 278,39 $
Spread / Highest target 64,5%
Spread / Average Target 3,61%
Spread / Lowest Target -43,6%
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
Sector and Competitors
1st jan.Capitalization (M$)
BIOGEN INC.12.56%41 494
CSL LIMITED-3.06%98 648
WUXI BIOLOGICS (CAYMAN) INC.-0.97%56 050
CHONGQING ZHIFEI BIOLOGICAL PRODUCTS CO., LTD.35.79%53 610
SAMSUNG BIOLOGICS CO.,LTD.-2.66%48 541
ALEXION PHARMACEUTICALS, INC.9.97%37 973