Reported 2 months ago
Biogen has increased its full-year profit forecast due to cost reductions and stronger-than-expected sales from various treatments, despite slow adoption of its Alzheimer's drug. CEO Christopher Viehbacher indicated that the company, after a series of strategic cuts and acquisitions, is positioned for sustainable growth. The adjusted profit for 2024 is now forecasted between $15.75 and $16.25 per share, up from previous estimates of $15 to $16, as the company reports a second-quarter adjusted profit of $5.28 per share, surpassing expectations.
Source: YAHOO