Investing.com -- Biogen reported second-quarter revenue and adjusted profit above analysts’ estimates on Wednesday, helped by 24% growth in its Growth Portfolio and stronger revenue from recently acquired products, although sales of its Alzheimer’s drug Leqembi narrowly missed expectations.

Revenue rose 3% to $2.74 billion, above the $2.47 billion Bloomberg consensus, while product revenue increased 2% to $1.92 billion, topping expectations of $1.77 billion.

Adjusted earnings per share fell to $3.60 from $5.47 a year earlier but exceeded the $2.89 consensus.

Biogen said Growth Portfolio revenue reached $1.06 billion, up 24% from a year earlier, as revenue from its two recently acquired products added to growth. The company also said the portfolio generated more revenue than its legacy multiple sclerosis business during the quarter.

Global in-market sales of Leqembi rose 15% to $184 million, missing the $186.4 million analyst estimate. U.S. in-market sales reached $97 million, reflecting continued sequential growth, while the U.S. Food and Drug Administration approved Leqembi IQLIK for at-home initiation during the quarter.

Among Biogen’s other growth products, Spinraza revenue rose 2% to $402 million, driven by demand and stocking for the high-dose regimen, partly offset by shipment timing in certain international markets.

Slyclarys revenue increased 29% to $168 million, primarily on higher global demand, while Zurzuvae sales climbed 53% to $71 million on demand growth. Vumerity revenue fell 7% to $197 million, primarily due to inventory dynamics.

The company updated its 2026 outlook to reflect what it called a strengthening underlying business performance outlook.

It raised underlying non-GAAP diluted earnings per share guidance to $15.85-$16.85 from $15.25-$16.25, while reported non-GAAP diluted earnings per share guidance was revised to $12-$13 to reflect acquisition-related items and milestones.

Biogen also said it expects full-year revenue to increase by a mid-single-digit percentage from 2025.