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Biogen Sees Improving Momentum In Slow Leqembi Launch

CEO Viehbacher ‘Encouraged’ By Prescriber Growth

 
• By Mandy Jackson

Sales of the company’s new drugs have a lot of growing to do to make up for older products’ declines, but Biogen highlighted signs of strength for new launches in its Q1 report.

Q1 First Quarter Budget Speedometer 3d Render Illustration
Biogen's New Launches Revved Up In Q1 • Source: Shutterstock

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...

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