Biogen tops estimates with revenue of $3.7B in Q2

Wednesday, 22. July 2020 12:52

Biogen Inc said on Wednesday that its revenue in the second quarter of 2020 amounted to $3.7 billion, rising 2% year on year and topping estimates.

GAAP net income rose 3% to $1.5 billion and GAAP diluted earnings per share (EPS) stood at $9.59, surging 22% compared to the same quarter in 2019.

"In the second quarter, Biogen continued to deliver strong financial results. We are pleased to have completed the BLA submission for aducanumab and look forward to the prospect of launching the first therapy to reduce clinical decline in Alzheimer’s disease," CEO Michel Vounatsos stated.

Biogen shares rose 2.4% in premarket trading on better-than-expected results.

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