Biogen beats estimates with quarterly results
US biotech Biogen (Nasdaq: BIIB) has reported second quarter 2021 financial results that exceeded estimates.
Revenues at the company hit $2.78 billion for the quarter, where investment bank SVB Leerink Research and a consensus of analysts had predicted $2.6 billion. The sales total was a 25% drop on the figure from the same quarter in 2020, a decrease caused partly by plummeting sales of the multiple sclerosis (MS) drug Tecfidera (dimethyl fumarate).
Diluted earnings per share (EPS), calculated not using generally accepted accounting principles (GAAP), were $5.68, where SVB Leerink Research expected $4.32 and analysts anticipated $4.58.
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