1. Scrip
  2. >>Business

Flat Is The New Up As Biogen Anticipates Stabilizing Product Revenue In 2024

EPS Will Rise, Primarily Due To Cost Cuts

 
• By Mandy Jackson

With its multiple sclerosis legacy under various pressures but four new drugs in indications outside of MS, the company expects flat product revenue in 2024 after a 3.8% decline in 2023.

Biogen sign at its headquarters in Cambridge, Massachusetts
Biogen expects lower total revenue and flat product revenue in 2024 • Source: Shutterstock

Biogen, Inc. continues on its long, slow return to revenue growth, but an overall rise in product sales is not anticipated in 2024. The company said on 13 February when it reported fourth quarter 2023 earnings that it expects total revenue to decline this year by a low to mid-single-digit percentage, but it said total product revenue will flatten out as sales from its four new drugs offset declines in multiple sclerosis drug sales.

The total revenue guidance, which includes both manufacturing and product revenue, was slightly below analyst consensus of -2% for 2024....

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business

Stock Watch: Sanofi And Merck Temper Big Pharma Q2 Earnings Cheer

 
• By Andy Smith

The investor enthusiasm that greeted initial second-quarter pharma earnings announcements was dampened by the results from Sanofi and Merck & Co. Sanofi was particularly punished by investors despite overall growth, while Merck’s revenue fall was probably baked into expectations.

Japan Results Roundup: Reduced Forex Impact, Uncertain US Tariff Outlook

 
• By Lisa Takagi

Most major Japanese firms report generally positive fiscal first quarter results, led by mainstay growth and despite lower currency effects. But the future impact of any US pharma tariffs remains an overhang.

In Brief: Bayer Commits Up To $1.3bn For Kumquat’s KRAS G12D Inhibitor

 
• By Mary Jo Laffler

Deal Snapshot: Bayer will take over development of the asset once Kumquat completes a Phase Ia clinical trial, but the biotech firm may opt in to share US profits and losses.

S&E In Brief: Launch Updates And Political Headwinds

 
• By Sushmita Panda

Madrigal and Syndax update investors on their key launches, while Merck KGaA weighs in on the possibility of direct-to-consumer sales in the US.

More from Scrip

S&E In Brief: Launch Updates And Political Headwinds

 
• By Sushmita Panda

Madrigal and Syndax update investors on their key launches, while Merck KGaA weighs in on the possibility of direct-to-consumer sales in the US.

Another Day Another Win For Novartis’s Ianalumab – This Time In ITP

 
• By Aakash Babu

The Swiss drugmaker’s BAFF-R inhibitor and ADCC-mediated B-cell depletor candidate has chalked up another win in late-stage development, further strengthening its pipeline-in-a-product bid.

Pfizer/Astellas’s Padcev Scores First Big Win In Bladder Cancer Study

 
• By Alaric DeArment

The drug, combined with Merck’s Keytruda, was successful among certain chemotherapy-ineligible MIBC patients, with another Phase III readout expected by March 2026.