Biogen Q2 Preview: Can It Change The Narrative After Q1 Strength Was Overshadowed?
Despite 11% sales growth during the first quarter, Biogen faces pessimism about continuing to pursue the amyloid hypothesis in Alzheimer’s and competitive threats to Spinraza and Tecfidera. ALS and biosimilars may offer upside.
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The biotech’s MS franchise led by Tecfidera grew strongly, while SMA therapy Spinraza dipped slightly, but Biogen maintains optimistic outlook amidst growing competition.
With quarterly sales up to $36m, Biogen says its Imraldi rival to Humira is the market-leading adalimumab biosimilar in Europe.
Still reeling from aducanumab’s failure in Phase III Alzheimer’s trial, Biogen management played up the company’s progress toward diversification and the promise of its pipeline.