Biogen (BIIB) has been making significant strides in the
bio-tech market despite recent challenges. Reporting results from
Q1 of 2024, its reported earnings surpassed Wall Street estimates, due in large part to successful cost-cutting strategies. However, a shrink in revenue and profit due to costs associated with
Aduhelm and a slump in sales of multiple sclerosis therapies has been observed. Still, despite numerous challenges, BIIB rose by 29% in a single year. Its
Alzheimer's drug, in partnership with Eisai, experienced a delay in approval from the CHMP. Another Alzheimer's drug,
Lecanemab, demonstrated benefits but also side effects. Biogen's MS drug,
Vumerity, recently acquired a positive opinion from the CHMP. There is renewed confidence in
BIIB's potential despite reports showing the company's stock falling more than the broader market in some instances. An FDA delay for Eli Lilly's Alzheimer's treatment caused a surge in Biogen's stock. Analysts anticipate potential deals between $1B-$2B to fill revenue shortfall gaps. Finally, Biogen's
BiobSimilar Byooviz received FDA approval, and they just reported a
64% return for its investors over the past year.
Biogen BIIB News Analytics from Tue, 05 Sep 2023 07:00:00 GMT to Sat, 11 May 2024 20:16:01 GMT -
Rating 4
- Innovation -1
- Information 5
- Rumor -3
