Biogen reported third-quarter revenue of $2.80 billion and adjusted earnings of $2.62 per share, beating estimates of $2.63 billion and $1.99. It raised the lower end of its 2026 adjusted EPS forecast by 20 cents to $12.20 and said the Apellis deal is expected to generate at least $250 million in annualized benefits by the end of 2027.
Biogen beat third-quarter estimates as growth in rare-disease and Alzheimer’s treatments helped offset declines in multiple sclerosis drugs. Revenue rose 11% to $2.80 billion, while adjusted profit was $2.62 per share. Rare-disease sales climbed 27% to $676 million, and multiple sclerosis sales fell 13% to $919 million.
Biogen raised the lower end of its 2026 adjusted EPS forecast by 20 cents to $12.20 per share, retaining the upper end at $13. The company expects its $5.6 billion Apellis acquisition to add to adjusted earnings in 2027, with at least $250 million in annualized cost savings and other benefits by year-end.
Sales of Apellis drugs Syfovre and Empaveli were $191 million and $52 million, respectively; Syfovre sales rose 27%, while Empaveli sales increased 92% from a year earlier. Global sales of Leqembi, developed with Eisai, rose 67% to about $202 million.
