Biogen (BIIB) Gains 5% on Strong Q4 Results, Promising Outlook

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.

You May Also Be Interested In

• US Regulators Plan To Speed Authorizations Of New Vapes - WSJ
• MillerKnoll, Inc. (MLKN) Tops Q1 EPS by 18c ; Offers Guidance
• Senior Iranian Official To Reuters: Tehran Is Reviewing U.S. Response To Its Proposal To End Hostilities