Biogen Inc. (BIIB) is scheduled to report its third-quarter (ended September 30, 2023) results on November 8, 2023, before the stock market opens. While the company’s EPS and revenue for the third quarter are expected to decline year-over-year, it could be wise to invest in the stock now for reasons discussed throughout this article.
BIIB’s EPS in the third quarter is expected to decline 16.4% year-over-year to $3.99. Its revenue is expected to decline 4.2% year-over-year to $2.40 billion. Lower sales of its Multiple Sclerosis (MS) segment products, which include drugs like TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA, will likely have affected its revenues. In the last reported quarter, its MS portfolio sales declined 15% year-over-year to $1.21 billion.
