Biogen
1Q Revenues: $2.3 billion (-7%)
1Q Earnings: $393.4 million (+1%)
Comments: Multiple sclerosis (MS) product revenue, which includes TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA, was $1.1 billion, down 4%. Rare disease revenue, which includes SPINRAZA, QALSODY and SKYCLARYS, was $424 million in the quarter, down 4%. Biosimilars revenue was $197 million, up 2%. Contract manufacturing, royalty and other revenue was down 39% to $185 million. LEQEMBI launch uptake accelerated in the quarter with sales of approximately $19 million, nearly triple than 4Q23. SKYCLARYS first quarter global revenue was $78 million with the U.S. and EU launch now underway.