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Sep 30, 2020
Biogen Q3 2020 Earnings Report
Biogen reported solid performance despite facing TECFIDERA® generics launch and advanced its pipeline with Denali Therapeutics collaboration.
Key Takeaways
Biogen reported Q3 2020 results with a revenue of $3,376 million, a GAAP diluted EPS of $4.46, and a Non-GAAP diluted EPS of $8.84. The company is progressing with aducanumab and has a new share repurchase authorization of $5.0 billion.
Third quarter revenue totaled $3,376 million, a 6% decrease compared to Q3 2019.
GAAP diluted EPS was $4.46, while Non-GAAP diluted EPS reached $8.84.
FDA accepted Biologics License Application for aducanumab with Priority Review.
A new collaboration with Denali Therapeutics was established to bolster the pipeline for Parkinson’s disease.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Biogen updated its full year 2020 financial guidance to reflect the impact of TECFIDERA generic entrants.
Positive Outlook
- Full Year Revenue to be approximately $13.2 billion to $13.4 billion.
- Full Year Non-GAAP diluted EPS to be between $32.50 and $33.50.
Challenges Ahead
- Assumes significant erosion of TECFIDERA in the fourth quarter of 2020.
- Full Year GAAP diluted EPS to be between $25.50 and $26.50.
- Guidance does not include potential impacts from new acquisitions or large business development transactions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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