Biogen (BIIB) Q4 Earnings & Sales Miss Estimates, Stock Falls

Biogen (BIIB) reported fourth-quarter 2023 adjusted earnings per share (EPS) of $2.95, which missed the Zacks Consensus Estimate of $3.16. Earnings declined 27% year over year. On a constant currency basis, earnings were flat.Total revenues came in at $2.39 billion, down 6% on a reported basis (5% on a constant-currency basis) from the year-ago quarter due to lower sales of all key drugs, multiple sclerosis (MS) drugs like Tecfidera and Tysabri as well as spinal muscular atrophy drug, Spinraza. Sales missed ...