Biogen Raises Full-Year Guidance

By Matt Grossman

Biogen Inc. raised its full-year sales and earnings guidance Wednesday but said it expects minimal revenue from its Aduhelm drug for Alzheimer's disease through the end of the year.

The Cambridge, Mass.-based pharmaceutical company said it now expects sales of $10.8 billion to $10.9 billion this year, an upward revision from previous guidance of $10.65 billion to $10.85 billion.

Biogen said its adjusted earnings will likely be $18.85 a share to $19.35 a share. The company had previously guided for per-share adjusted earnings of $17.50 to $19.00.

The guidance assumes minimal revenue from Aduhelm this year, Biogen said. The drug gained approval from the Food and Drug Administration earlier this year.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

October 20, 2021 07:43 ET (11:43 GMT)

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