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Flat Is The New Up As Biogen Anticipates Stabilizing Product Revenue In 2024

EPS Will Rise, Primarily Due To Cost Cuts

Feb 14 2024

• By Mandy Jackson

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With its multiple sclerosis legacy under various pressures but four new drugs in indications outside of MS, the company expects flat product revenue in 2024 after a 3.8% decline in 2023.

Biogen sign at its headquarters in Cambridge, Massachusetts — Biogen expects lower total revenue and flat product revenue in 2024 • Source: Shutterstock

Biogen, Inc. continues on its long, slow return to revenue growth, but an overall rise in product sales is not anticipated in 2024. The company said on 13 February when it reported fourth quarter 2023 earnings that it expects total revenue to decline this year by a low to mid-single-digit percentage, but it said total product revenue will flatten out as sales from its four new drugs offset declines in multiple sclerosis drug sales.

The total revenue guidance, which includes both manufacturing and product revenue, was slightly below analyst consensus of -2% for 2024....

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