Biogen reports Q1 EPS $3.02, consensus $2.96

Reports Q1 revenue $2.43B, consensus $2.23B. Product revenue increased 3% at constant currency and 1% at actual currency year-over-year, aided in part by the timing of Spinraza shipments. “Biogen (BIIB) delivered strong first-quarter results, supporting our strategy for long-term growth. We are encouraged by the transformation in our commercial product portfolio, with approximately 45% of total product revenue in the first quarter derived from important medicines outside of our MS business,” said Christopher Viehbacher, President and Chief Executive Officer. “In an environment of potential tariffs and medical supply security concerns, Biogen operates a significant manufacturing presence in the U.S. Roughly 75% of our 2024 U.S. product revenues were generated by products which have manufacturing operations in the U.S. In addition, Biogen pays substantial taxes in the U.S. since our U.S. market revenues are almost entirely taxable in the U.S. at Federal and state tax rates.”