NVS - Biogen Stock: Cheapish But With Few Growth Prospects
2024-07-11 11:42:26 ET
Summary
- Biogen Inc.'s shares have risen 20% since its first quarter earnings report, with hopes for new product launches to boost revenue.
- However, its Alzheimer's medicine, Leqembi, now faces new competition from Eli Lilly, and its MS franchise has various challenges.
- A new company restructuring aims to save $1 billion in expenses, with the FY25 forecast showing a potential revenue increase for the first time since 2018.
- What's ahead for this drug giant in the quarters ahead? An investment analysis follows in the paragraphs below.
Shares of multiple sclerosis [MS] and rare disease concern Biogen Inc. ( BIIB ) have risen 20% since its 1Q24 report, with hopes that four new product launches will stem the decline of its MS franchise. Most of the buzz surrounds Alzheimer's med Leqembi, which is starting to show signs of life after a slow start but faces competition from Eli Lilly and Company's ( LLY ) recently approved Kisunla. With an FY25 Street forecast of an increase in total revenue for the first time since 2018 and a restructuring designed to save it $1 billion in gross expenses, Biogen merited a deeper dive....
Biogen Stock: Cheapish, But With Few Growth Prospects