Biogen 3rd-qtr earnings miss expectations, but sales beat

21 October 2020

Biogen (Nasdaq: BIIB) saw its shares fall 2.36% to $260.82 by mid-morning after it presented financial results for the third quarter of 2020, showing that earnings missed analysts’ expectations.

The biotech major posted earnings of $701.50, or $4.46 per share, down 55% compared with the $1,545.90, or $8.39 per share, reported in the year-ago period. Adjusted earnings per share (EPS) were $4.47 for the quarter, against a FactSet consensus of $8.03.

Total revenues for the quarter were $3.37 billion for the quarter, a decline of 6%, though beating the FactSet consensus of $3.33 billion.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK