Biogen Hits 52-Week High, Alzheimer's Drug Sales Jump
Biogen Inc.(NASDAQ:BIIB) on Friday reported better-than-expected fourth-quarter earnings, with adjusted EPS of $1.99, beating the consensus of $1.59.
The Alzheimer's drug maker reported revenues of $2.28 billion, beating the consensus of $2.20 billion, down 7% on a reported and constant currency basis.
Drugs Performance
Biogen on Friday said fiscal 2025 revenue from growth products increased 19% year-over-year and offset the year-over-year revenue decline from multiple sclerosis products, excluding Vumerity.
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Leqembi (Alzheimer's drug) collaboration revenue was $47 million, with in-market sales of around $134 million, up 54%, booked by Eisai. U.S. in-market sales of approximately $78 million, representing continued growth.
Multiple sclerosis revenue of $917 million decreased by 14% (down 15% on constant currency). Sales of the multiple sclerosis drug Tysabri were down to $397.5 million from $415.4 million.
Rare disease revenue decreased 4% year over year (-4% on constant currency) to $514.6 million. Spinraza's revenue decreased to $356.2 million from $421.4 million a year ago.
Spinraza's fourth quarter revenue declined 15% year-over-year, impacted by the timing of shipments outside the U.S., with full year revenue down 2% year-over-year.
Revenues from Skyclarys (Friedreich's ataxia drug), acquired via the Reata acquisition, reached $133.4 million during the quarter, up from $102.2 million a year ago.
Skyclarys grew global patients on therapy by approximately 30% in 2025; the fourth quarter U.S. revenue of approximately $89 million was driven by demand growth, with ex-U.S. revenue of approximately $44 million reflecting continued demand growth, also impacted by a one-time reimbursement true-up.
Zurzuvae's (postpartum depression drug) fourth quarter revenue of approximately $66 million showed strong continued demand growth. Vumerity grew 3% year-over-year in the fourth quarter to $181.1 million.
"Our 2025 performance reflected continued focus on strong execution and financial discipline, driven by our revenue of nearly $1 billion from LEQEMBI, SKYCLARYS, ZURZUVAE, and QALSODY, progression of our pipeline, and resilience of our MS franchise," commented Christopher Viehbacher, President and CEO.
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