CNBC August 1, 2024
Key Points
– Biogen reported second-quarter earnings and revenue that topped estimates and hiked its full-year guidance as cost-cutting efforts showed progress and sales of its breakthrough Alzheimer’s drug, Leqembi, and other new products came in higher than expected.
– The biotech company is pinning its hopes on Leqembi and other new products to drive growth as it reduces costs and grapples with declining demand for its multiple sclerosis therapies.
– Uptake of Leqembi appears to be picking up, with roughly $40 million in sales for the quarter.
Biogen on Thursday reported second-quarter earnings and revenue that topped estimates and hiked its full-year guidance, as the company’s cost cuts showed progress and sales of its breakthrough Alzheimer’s drug, Leqembi,...
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