Biogen tops profit estimates as cost cuts take hold, Alzheimer's drug Leqembi launch picks up
Publishing timestamp: 2024-04-24 10:26:32
Summary
Biogen reported strong first-quarter profit with sales of Alzheimer's drug Leqembi exceeding expectations. The company is also seeing growth in other newly launched drugs, leading to a 6% increase in shares. Biogen reiterated its full-year earnings forecast and sales guidance. Additionally, other companies like Viking Therapeutics and Amgen are making moves in the weight loss drug market.
Sentiment: POSITIVE
Tickers: ESALY, 4523.T-JP, BIIB,
Keywords: eisai co ltd, biogen inc, pharmaceuticals, earnings, business news, business, breaking news, health care industry, biotechnology, biotech and pharmaceuticals,
Source: https://www.cnbc.com/2024/04/24/biogen-biib-earnings-q1-2024-.html