Biogen’s Outlook Dims As Analyst Projects Flat Revenue Until 2026
Needham downgraded Biogen Inc (NASDAQ:BIIB), citing limited catalysts for the company over the next year.
Alzheimer’s drug Leqembi’s (lecanemab) sales growth is expected to stay gradual without a sharp increase in the near future. The analyst remarked that the physician feedback and expert opinions indicate this slow pace will continue.
Leqembi’s third-quarter global in-market sales were approximately $67 million, including U.S. in-market sales of approximately $39 million.
Although investors are aware of this, market expectations are still high. Biogen will face ongoing challenges as these expectations are adjusted to more realistic levels.
In a positive move, last week, the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) recommended approval of Eisai Co., Ltd (OTC:ESALY) and Biogen’s lecanemab for …
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