Biogen (BIIB) Tops Q4 EPS by 8c; FY17 Rev Guidance Falls Below the Street

Biogen (NASDAQ: BIIB) reported Q4 EPS of $5.04, $0.08 better than the analyst estimate of $4.96. Revenue for the quarter came in at $2.87 billion versus the consensus estimate of $2.94 billion.

GUIDANCE:

Biogen sees FY2017 EPS of $20.45-$21.45, versus the consensus of $21.02. Biogen sees FY2017 revenue of $11.1-11.4 billion, versus the consensus of $12.07 billion.

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Biogen seeks to advance transformational pipeline programs for some of the greatest challenges in medicine, including Alzheimer’s disease, Parkinson’s, and ALS,” said Chief Executive Officer Michel Vounatsos. “SPINRAZA for spinal muscular atrophy is a prime example of the type of groundbreaking innovation that we must continue to pursue. As the first treatment for infants and children with this devastating disease, SPINRAZA has the potential to improve and extend the lives of thousands of patients worldwide.”

“In 2016 we saw continued growth from our multiple sclerosis portfolio, which includes the market leading therapies amongst the orals, the interferons, and the high efficacy agents,” Vounatsos continued. “Together with AbbVie we are launching ZINBRYTA as a new option for MS patients around the world. Our hemophilia products continued to perform well as we prepare to spin off this business in the coming days, and we are pleased with the strong growth of BENEPALI, an etanercept biosimilar we are commercializing in Europe. I am excited to take the helm of a company with such a strong foundation, and my plan is to maintain a disciplined focus on near-term execution while laying the groundwork for Biogen’s long-term sustainability through continued investment in R&D and innovation and business development.”

For earnings history and earnings-related data on Biogen (BIIB) click here.

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