Biogen, a global biotechnology company, has had a dynamic third quarter in 2024. The company has <$b>heightened its profit forecast and beaten estimates with the Alzheimer's drug, Leqembi, gaining traction as new products offset deficits from lower Multiple Sclerosis revenues. However, it has not been immune to a downgrade from
Morgan Stanley and legal investigations undertaken by Bragar Eagel & Squire, P.C. Notably, there is a change in its executive rank with the
appointment of Daniel Quirk, MD, as Chief Medical Officer, coupled with the retirement announcement of EVP and CFO, Michael McDonnell. Collaborations have been central to Biogen's operations; partnerships with Neomorph, Beckman Coulter, Fujirebio and Ionis have been announced to advance research in Alzheimer's and other rare diseases.
Leqembi's approval in the U.K., Israel, and China shows promising global expansion, but its perceived high cost brought about its rejection in Europe.
Biogen's stock value has endured a significant loss over the last five years, making it a compelling value stock for long play according to some analysts.
Biogen BIIB News Analytics from Wed, 31 Jan 2024 08:00:00 GMT to Sat, 02 Nov 2024 20:07:50 GMT -
Rating 1
- Innovation 4
- Information 8
- Rumor 3
