Biogen Announces Second Quarter Financial Results | Financial Buzz

Biogen Announces Second Quarter Financial Results

Biogen Inc. (NASDAQ: BIIB) announced second quarter financial results.  The company reported revenues of 3.682 Billion or 2% increase compared to the same period a year ago.  Multiple sclerosis revenue fell 2% compared to q2 of 2019 to USD 2.335 Billion.  Second quarter GAAP net income amounted to USD 1.542 Billion and USD 9.59 diluted EPS. 

“In the second quarter, Biogen continued to deliver strong financial results. We are pleased to have completed the BLA submission for aducanumab and look forward to the prospect of launching the first therapy to reduce clinical decline in Alzheimer’s disease,” said Michel Vounatsos, Biogen’s Chief Executive Officer. “Our progress with aducanumab exemplifies our broader strategy of building a multi-franchise portfolio based on our deep expertise in neuroscience, and we have multiple near-term value creation opportunities in other areas such as ALS, ophthalmology, lupus, stroke, and biosimilars.”

Biogen discovers, develops, and delivers worldwide innovative therapies for people living with serious neurological and neurodegenerative diseases as well as related therapeutic adjacencies. One of the world’s first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today Biogen has the leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, commercializes biosimilars of advanced biologics, and is focused on advancing research programs in multiple sclerosis and neuroimmunology, Alzheimer’s disease and dementia, neuromuscular disorders, movement disorders, ophthalmology, immunology, neurocognitive disorders, acute neurology, and pain.