Biogen reports Q1 adjusted EPS $3.57, consensus $2.95

Reports Q1 revenue $2.48B, consensus $2.25B. President and Chief Executive Officer Christopher Viehbacher said: “We significantly advanced our transformation into the New Biogen (BIIB) through strong commercial and pipeline execution and the announcement of our intent to acquire Apellis (APLS). We believe the planned acquisition of Apellis will bolster our revenue and earnings growth, adding two differentiated commercial medicines and deepening the foundation for felzartamab, our key Phase 3 asset in kidney disease. This acquisition and the acquired rights to felzartamab in China come while we also expanded sales of our growth products, demonstrated continued resilience in our MS portfolio and reported important positive new data that reinforce our confidence in the late-stage pipeline.”