‘New Biogen’ promised as investors spurn results and estimates

13 February 2024

Shares in Biogen (Nasdaq: BIIB) slumped by 6% during Tuesday morning’s trading in New York.

The US biotech major had just presented its financial results for the fourth quarter and full year for 2023, as well as giving its estimates for the year ahead.

Biogen’s fourth quarter revenue of $2.39 billion was 6% lower than the same period of 2022 and missed analysts’ modest expectations for a figure of $2.47 billion.

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