Industry Overview - The second-quarter 2024 reporting cycle for the Medical sector, which includes pharma/biotech and medical device companies, is gaining traction with several key companies reporting strong results [1] - As of July 24, 16.9% of companies in the Medical sector, representing 33.8% of the sector's market capitalization, reported quarterly earnings, with 100% outperforming both earnings and revenue estimates [1] - Year-over-year earnings for the Medical sector are expected to increase by 19.4%, while sales are projected to grow by 7.3% [1] Company Performance GSK plc - GSK has a solid track record, surpassing estimates in three of the last four quarters, with an average earnings surprise of 10.11% [3] - The Zacks Consensus Estimate for GSK's earnings per share is $1, driven by higher sales of newer products, which are expected to offset declines in older drug sales [4] Vertex Pharmaceuticals - Vertex has consistently beaten earnings estimates in the last four quarters, with an average surprise of 5.92% [5] - The Zacks Consensus Estimate for Vertex's revenues is $2.65 billion, with earnings estimated at $4.04 per share, driven by strong sales of its cystic fibrosis drug, Trikafta/Kaftrio [5] Biogen - Biogen has beaten earnings estimates in three of the last four quarters, with an average surprise of 3.91% [6] - The Zacks Consensus Estimate for Biogen's revenues is $2.38 billion, with earnings pegged at $4.00 per share, although sales are likely to be impacted by lower sales of multiple sclerosis drugs [7] Moderna - Moderna has exceeded earnings estimates in each of the last four quarters, with an average surprise of 55.39% [8] - The Zacks Consensus Estimate for Moderna's sales is $124.9 million, with an expected loss of $3.47 per share, as COVID-19 vaccine sales are anticipated to be minimal [8] Regeneron Pharmaceuticals - Regeneron has beaten earnings estimates in three of the last four quarters, with an average surprise of 4.47% [9] - The Zacks Consensus Estimate for Regeneron's revenues is $3.38 billion, with earnings estimated at $10.55 per share, driven by strong sales of the asthma drug Dupixent [9]

Wall Street analysts forecast that Biogen Inc. (BIIB) will report quarterly earnings of $4 per share in its upcoming release, pointing to a year-over-year decline of 0.5%. It is anticipated that revenues will amount to $2.38 billion, exhibiting a decline of 3.1% compared to the year-ago quarter.The consensus EPS estimate for the quarter has been revised 0.3% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimat ...

The collaboration aims to identify and develop accessible, minimally invasive blood-based biomarkers specific for tau pathology in the brainThese tools have the potential to be used to stratify patients or monitor treatment response for a new generation of future therapies impacting tau pathology in Alzheimer’s disease CAMBRIDGE, Mass. and BREA, Calif. and TOKYO, July 30, 2024 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB), Beckman Coulter, Inc. and Fujirebio announced a collaboration to potentially identif ...

The collaboration aims to identify and develop accessible, minimally invasive blood-based biomarkers specific for tau pathology in the brainThese tools have the potential to be used to stratify patients or monitor treatment response for a new generation of future therapies impacting tau pathology in Alzheimer's disease CAMBRIDGE, Mass. and BREA, Calif. and TOKYO, July 30, 2024 (GLOBE NEWSWIRE) -- Biogen Inc. (NASDAQ:BIIB), Beckman Coulter, Inc. and Fujirebio announced a collaboration to potentially identify ...

Biogen (BIIB) , due to report second-quarter 2024 results on Aug 1, suffered a setback recently. Biogen and its Japanese partner Eisai on Friday announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency has given a negative opinion regarding marketing approval for their anti-amyloid beta therapy, Leqembi (lecanemab) for early Alzheimer’s disease in Europe.  The CHMP’s negative opinion was reportedly due to a brain swelling side effect called amyloid-related im ...

Biogen stock has slipped 18% so far this year.Biogen (BIIB -7.15%) built itself into a multiple sclerosis (MS) treatment giant over the years -- but as older blockbusters lost exclusivity, growth stalled. And last year, annual revenue dropped more than 45% to $9.8 billion from its peak back in 2019. Though Biogen launched a new MS drug back in 2019, called Vumerity, it's failed to replicate the growth and revenue levels of its predecessor.To boost growth, Biogen turned to other areas, and has placed a parti ...

European drug regulators on Friday rejected the Alzheimer's treatment Leqembi from Biogen and Eisai, creating another hurdle for the companies as they scramble to boost uptake of the therapy in the U.S. The European Commission, the EU's executive body, has a final say in Leqembi's approval. But it almost always follows the drug regulator's recommendations. In a statement, Eisai said it is "extremely disappointed" by the regulator's negative recommendation. The company added that it will seek a re-examinatio ...

TOKYO and CAMBRIDGE, Mass., July 26, 2024 (GLOBE NEWSWIRE) -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") and Biogen Inc. (NASDAQ:BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, "Biogen"))) announced today that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a negative opinion on the Marketing Authorization Approval (MAA) for the humanized anti-soluble aggregated amyloid-beta (Aβ) monocl ...

NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Biogen Inc. (NASDAQ: BIIB) on behalf of long-term stockholders following a class action complaint that was filed against Biogen on May 22, 2024 with a Class Period from February 3, 2022 to February 13, 2024. Our investigation concerns whether the board of directors of Biogen have breached their fiduciary duties to the company. Biogen is a glo ...

Biogen Inc. (BIIB) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on August 1, 2024, might help the stock move higher if these key numbers are better than expect ...