Biogen Inc (NASDAQ:BIIB) posted Q4 sales of 2.73 billion, beating the consensus of $2.62 billion, down 4.2% Y/Y.
- Multiple sclerosis (MS) revenue, including royalties on sales of Ocrevus, of $1.79 billion decreased by 1%.
- Spinraza's revenue of $441 million decreased 12% at actual currency and 10% at constant currency.
- Aduhelm's revenue was $1 million. Analysts' on average, had expected $2.8 million in fourth-quarter sales of Aduhelm, Reuters noted.
- Biosimilars revenue of $221 million increased 12% versus the prior year at actual currency and 13% at constant currency.
- Sales of multiple sclerosis drug Tysabri rose nearly 8% to $512.7 million.
- Biogen has been facing a crisis since the Centers for Medicare and Medicaid Services last month issued a draft decision saying that Medicare wouldn't pay for Aduhelm except in the context of a clinical trial.
- Adjusted EPS of $3.39, a turnaround from EPS loss of $(1.05) a year ago, missed the consensus of $3.40.
- Guidance: Biogen expects an FY22 adjusted profit of $14.25-$16.00 per share, sharply below the consensus of $18.85.
- The Company expects FY22 sales of $9.7 billion - $10.0 billion, below the consensus of $10.34 billion.
- Price Action: BIIB shares are down 3.04% at $218.12 during the market session on the last check Thursday.
