Core Insights - Biogen's key multiple sclerosis (MS) drugs, including Tecfidera and Tysabri, along with the spinal muscular atrophy (SMA) treatment Spinraza, are experiencing declining sales due to increased competition, impacting overall revenue growth [1][3][10] Sales Performance - Sales of Tecfidera are declining due to the launch of multiple generic versions in North America, Brazil, and certain European countries [3] - Tysabri's sales are also declining as a result of heightened competition in the U.S. and the introduction of biosimilars in Europe, with a U.S. biosimilar expected by Q4 2025 [3][4] - Spinraza's revenues are anticipated to be lower in the second half of the year due to unfavorable shipment timing and competition from Novartis' Zolgensma and Roche's Evrysdi [5] New Drug Developments - Biogen's collaboration with Eisai on Leqembi for Alzheimer's disease shows potential for long-term growth, with sequential sales improvements noted over the past four quarters [6][10] - Leqembi has been launched in multiple countries and is expected to generate significant sales due to the unmet need in Alzheimer's treatment [7] - Skyclarys is witnessing strong demand trends, particularly in the U.S. and EU, with ex-U.S. sales projected to become a more significant growth driver in 2025 [9] Financial Outlook - Biogen's total revenues rose by 7% in the first half of 2025, driven by new drug sales, although the overall revenue for 2025 is projected to remain flat compared to 2024 [11][12] - The contribution from new drugs is increasing, but it is not yet sufficient to offset the declining revenues from MS drugs and Spinraza [12] Valuation and Estimates - Biogen's stock has declined by 2.2% this year, contrasting with an 8.7% increase in the industry [13] - The company's shares are trading at a forward price/earnings ratio of 9.49, lower than the industry average of 15.88 and its own 5-year mean of 13.55 [15] - The Zacks Consensus Estimate for 2025 earnings has increased from $14.87 to $15.68 per share over the past 90 days [16]

Key Takeaways Amicus' Galafold recorded $233.1M in H1 2025 sales, up 11% year over year.Label expansion and global approvals have boosted Galafold's revenue growth in recent times.Teva settlement blocks Galafold generics in the United States until January 2037.Amicus Therapeutics’ (FOLD) lead product, Galafold (migalastat), has been driving the majority of the company’s revenues. The drug remains a key top-line driver for the company.Galafold is the first oral precision medicine approved for treating patien ...

Key Takeaways Sanofi (SNY) reported second-quarter 2025 adjusted earnings of 90 cents per American depositary share, which missed the Zacks Consensus Estimate of 96 cents per share. Earnings of €1.59 per share rose 1.9% on a reported basis and 8.3% on a constant currency rate ("CER") basis. Net sales rose 6% on a reported basis to $11.33 billion (€10.0 billion). Sales rose 10.1% on a CER basis. Sales missed the Zacks Consensus Estimate of $11.53 billion. Sales rose 17.3% at CER in the United States, 4.4% in ...