Biogen: 27% drop in quarterly EPS

(CercleFinance.com) - Biogen reports Q4 2023 adjusted EPS (non-GAAP) of $2.
95, down 27% y-o-y, on revenues that are down 6% to $2.39bn (-5% at constant exchange rates). NB: pmt -3.4%.

For FY 2023, which the biotech group dubs a "year of transformation", it achieved adjusted EPS of $14.72, with revenues down 3%, in line with its guidance that it lowered three months ago.

Biogen expects 2024 adjusted EPS of $15 to $16, with revenues down in a low to mid-single digit range. It also expects to achieve net savings of $800m by 2025.


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