Biogen (BIIB) Q1 Earnings Beat, Stock Up on Alzheimer Drug Uptake

Biogen (BIIB) reported first-quarter 2024 adjusted earnings per share (EPS) of $3.67, beating the Zacks Consensus Estimate of $3.45. Earnings rose 8% year over year, driven by savings in operating costs and margin improvements. On a constant-currency basis, earnings were flat.Total revenues came in at $2.29 billion, down 7% on both reported basis and constant-currency basis from the year-ago quarter due to lower sales of key multiple sclerosis (MS) drugs like Tecfidera and Tysabri as well as spinal muscular ...