Biogen Sees Improving Momentum In Slow Leqembi Launch

Biogen, Inc. CEO Christopher Viehbacher acknowledged the longstanding challenge to deliver financial growth right at the beginning of the company’s first quarter earnings call on 24 April, before he and his executive team presented evidence that new product launches – Leqembi (lecanemab) for Alzheimer’s disease, the Friedreich’s ataxia drug Skyclarys (omaveloxolone) and the postpartum depression drug Zurzuvae (zuranolone) – may soon reverse their revenue fortunes. 

First quarter total revenue decreased 7% year-over-year to $2.29bn, just below analyst consensus of $2.31bn, but non-GAAP earnings per share (EPS) rose 8% to $3.67, beating consensus of $3.45. The...