Biogen Expects 2024 Total Revenue To Decline By A Low- To Mid-single Digit Percentage Vs. 2023 And Expects Core Pharmaceutical Revenue (Product Revenue Plus Leqembi) To Be Flat Vs. 2023
Portfolio Pulse from Benzinga Newsdesk
Biogen anticipates a decline in total revenue by a low- to mid-single digit percentage in 2024 compared to 2023, while expecting core pharmaceutical revenue (product revenue plus Leqembi) to remain flat versus 2023. The company also forecasts a low-double digit percentage growth in operating income for 2024, alongside a mid-single digit percentage point expansion in operating margin.

February 13, 2024 | 12:14 pm
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Biogen expects a decrease in total revenue but stable core pharmaceutical revenue in 2024, with an increase in operating income and margin expansion.
The expected decline in total revenue might initially concern investors, but the projection of stable core pharmaceutical revenue and an increase in operating income and margin expansion could offset negative sentiment. The mixed outlook suggests a neutral short-term impact on Biogen's stock price, as the positive aspects of the forecast may balance out the negative revenue growth expectation.
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