Biogen 4th-qtr results beat estimates

30 January 2020

US biotech major Biogen (Nasdaq: BIIB) today reported full year and fourth quarter 2019 financial results which beat expectations and saw the firm’s shares up 2.15% at $288.60 in pre-market trading.

Full-year total revenues were $14,378 million, a 7% increase on the prior year, driven by growth in all of the company’s core business areas.

Full year generally accepted accounting principles (GAAP) net income and diluted earnings per share (EPS) attributable to Biogen were $5,889 million, a rise of 33%, and $31.42, up 46%, respectively. Full year Non-GAAP net income and diluted EPS attributable to Biogen Inc. were $6,291 million and $33.57, respectively, compared to $5,378 million and $26.20, respectively, in the prior year.

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