ESALY - Why Is Biogen Stock Trading Lower On Tuesday? | Benzinga
On Tuesday, Biogen Inc (NASDAQ:BIIB) posted fourth-quarter 2023 sales of $2.39 billion, missing the consensus of $2.46 billion, down 6% Y/Y and 5% at constant currency (CC).
Adjusted EPS of $2.95, down 27%, missing the consensus of $3.18.
Multiple sclerosis revenue of $1.17 billion decreased by 8% (down 6% CC). Multiple sclerosis drug Tysabri sales were down to $464.7 million from $488.4 million.
Rare disease revenue increased 3% Y/Y (+6% CC) to $472 million. Spinraza’s revenue fell to $412.6 million from $458.8 million a year ago.
Revenues from Skyclarys, acquired ...