
• Reported GAAP EPS of -$0.33 down -118.03% YoY • Reported revenue of $2.28B down -7.14% YoY • Biogen expects full year 2026 Non-GAAP diluted EPS to be between $15.25 and $16.25. Total revenue is anticipated to decline by a mid-single digit percentage compared to full year 2025.
Bullish
Biogen's growth products showed strong Q4 2025 commercial execution, while pipeline advancements like LEQEMBI IQLIK's Priority Review and litifilimab's Breakthrough Therapy Designation highlight future value.
Bearish
Biogen faces declining revenue outlook for 2026 due to MS product erosion and reported negative GAAP EPS in Q4 2025. Increased IPR&D and litigation-related costs also pressured profitability.