Biogen (BIIB) Gains 5% on Strong Q4 Results, Promising Outlook
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Biogen (NASDAQ: BIIB) is trading up 4.9% in pre-open trading Wednesday following strong fourth quarter results and solid guidance.
Biogen reported Q4 EPS of $4.50, $0.42 better than the analyst estimate of $4.08. Revenue for the quarter rose 8% to $2.84 billion versus the consensus estimate of $2.71 billion.
TECFIDERA revenues were $993 million compared to $916 million in the same quarter last year. This was above the consensus of $939.5 million.
Biogen sees FY2016 EPS of $18.30-$18.60, versus the consensus of $18.45. Biogen sees FY2016 revenue of $11.1-11.3 billion, versus the consensus of $11.29 billion.
The company is looking to launch three new products this year: BENEPALI®, ZINBRYTATM, and an infliximab biosimilar.
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