Biogen Non-GAAP EPS of $4.77 beats by $0.66, revenue of $2.51B beats by $40M, raises FY22 outlook
Biogen press release (NASDAQ:BIIB): Q3 Non-GAAP EPS of $4.77  beats by $0.66.
Revenue of $2.51B (-9.7% Y/Y)  beats by $40M.
Multiple sclerosis revenue, including royalties on sales of OCREVUS, of $1,621 million decreased 11% versus the prior year at actual currency and 9% at constant currency.

SPINRAZA revenue of $431 million decreased 3% versus the prior year at actual currency and increased 2% at constant currency.
Biosimilars revenue of $188 million decreased 7% versus the prior year at actual currency and 4% at constant currency.
RITUXAN/GAZYVA profits attributable to Biogen were $136 million, a decrease of 10% versus the prior year.

FY22 Outlook: Revenue of $10B-$10.15B from prior outlook of $9.9B-$10.1B vs. consensus of $10B.
Non-GAAP EPS of $16.50-$17.15 from prior outlook of $15.25-$16.75 vs. consensus of $16.51.
The increase in full year 2022 revenue and Non-GAAP diluted EPS guidance is driven primarily by betterthan-expected topline performance and continued cost management.
This guidance assumes continued declines in RITUXAN revenue due to biosimilar competition, as well as continued erosion of TECFIDERA revenue due to generic entry.
Non-GAAP R&D expense is expected to be between $2.2 billion and $2.3 billion, unchanged from prior guidance.
Non-GAAP SG&A expense is expected to be between $2.3 billion and $2.4 billion, unchanged from prior guidance. The
Non-GAAP tax rate for 2022 is expected to be between 15.5% and 16.5%, unchanged from prior guidance.