Biogen set to report Q2 result amid declining multiple sclerosis drug sales
Biogen (NASDAQ:BIIB) is scheduled to announce Q2 earnings results on Tuesday, July 19th, after market close.
The consensus EPS Estimate is $4.10 (-27.8% Y/Y) and the consensus Revenue Estimate is $2.48B (-10.8% Y/Y).
Over the last 2 years, BIIB has beaten EPS estimates 75% of the time and has beaten revenue estimates 100% of the time.

Over the last 3 months, EPS estimates have seen 10 upward revisions and 11 downward. Revenue estimates have seen 9 upward revisions and 12 downward.

BIIB stock fell ~3% in early May after Q2 Non-GAAP EPS of $3.62 missed by $0.74.
Biogen's multiple sclerosis revenues have been declining since the past few quarters. The company reported $2.5B revenue with a ~6% YoY decline as multiple sclerosis franchise brought $1.6B revenue, indicating ~3% YoY decline.
The company had said it recognized $0.76 charge to reflect write offs related to the Alzheimerâs drug Aduhelm which was approved by the FDA last year.
Aduhelm brought only $2.6M during the last quarter as the company battled for its Medicare coverage.
Biogen has partnered with Japanese drugmaker Eisai (OTCPK:ESALF) (OTCPK:ESALY) for another Alzheimerâs candidate called lecanemab, which is expected to generate Phase 3 data in the fall of 2022.
Last quarter, Biogen reiterated the previously issued guidance of $9.7B â $10B revenue and $14.25 â $16.00 of adj. earnings per share. Analysts estimate revenue of $9.85B and adj EPS of $15.53.