Biogen Lifts 2021 Adjusted Earnings Guidance
April 22 2021 - 08:11AM
Dow Jones News
By Matt Grossman
Biogen Inc. on Thursday raised its full-year adjusted-earnings
guidance, leaving its revenue forecast unchanged.
The Cambridge, Mass.-based pharmaceutical company said it now
expects full-year adjusted earnings of $17.50 to $19 a share,
compared with a prior forecast for $17 to $18.50 a share. Analysts
surveyed by FactSet had been estimating full-year adjusted earnings
of $18.33 a share.
Biogen continues to expect revenue of $10.45 billion to $10.75
billion. Analysts' consensus is for revenue of $10.54 billion.
The company's guidance incorporates an expectation that U.S.
regulators will approve aducanumab, a potential treatment for
Alzheimer's disease, by June 7. If approved, the drug would launch
immediately and contribute modest revenue this year, Biogen
said.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
April 22, 2021 07:56 ET (11:56 GMT)
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