Biogen Q3 revenue down 18% YoY to $2.78B

Wednesday, 20. October 2021 13:05

American biotechnology firm Biogen Inc. revealed on Wednesday its revenue in the third quarter of 2021 landed at $2.78 billion, down by 18% in comparison to the same period last year although above expectations for the period. Its GAAP net income stood at $329 million, a decrease of 53% year-on-year, while its diluted earnings per share (EPS) came in at $2.22, a 50% drop from the $4.46 reported in the third trimester of 2020.

"2021 continues to be a transformative year for Biogen with the launch of ADUHELM and the initiation of the rolling submission for lecanemab in Alzheimer’s disease. In addition, along with Sage Therapeutics we are pursuing a filing for zuranolone in depression," the company's CEO Michel Vounatsos said.

Following the earnings announcement, Biogen's shares rose by 2.19% in the premarket trading at 7:09 am ET.

Related Links: Biogen Inc.
Author:
Baha Breaking the News (BBN) / IB