Biogen lowers FY26 adjusted EPS view to $14.25-$15.25, consensus $15.55

Full year 2026 total revenue expected to decline by a mid-single digit percentage versus full year 2025. Full year 2026 Non-GAAP diluted EPS is now expected to be between $14.25 and $15.25, excluding any impact from the Apellis transaction. Updated guidance includes an approximately $1.00 impact from acquired IPR&D charges resulting from ongoing business development activities to support Biogen’s (BIIB) growth strategy. This comprises approximately 20c recorded in the first quarter and approximately 80c expected in the second quarter. Previously saw FY26 adjusted EPS $15.25-$16.25. “With the Apellis transaction expected to close in the second quarter of 2026, Biogen plans to provide updated 2026 guidance inclusive of Apellis when it reports second quarter 2026 earnings,” the company stated.