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Biogen Surpassed Estimates in Q3 2018, Reports Strong Growth


Oct. 23 2018, Updated 4:23 p.m. ET

Biogen’s revenues

Biogen (BIIB), a leading biotechnology company, released its third-quarter earnings on October 23. Biogen surpassed Wall Street analysts’ estimates for EPS and revenues during the quarter. Biogen reported non-GAAP diluted EPS of $7.40 on revenues of ~$3.44 billion. The company beat the EPS estimate of $6.78 on revenues of ~$3.33 billion.

The chart below compares Biogen’s revenues and EPS since the first quarter of 2017.

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Revenues in Q3 2018

During the third quarter, Biogen (BIIB) reported 12.0% year-over-year revenue growth to ~$3.44 billion. The strong sales of multiple sclerosis products Tecfidera and Tysabri contributed to the company’s revenue growth during the quarter. Its revenue growth was also aided by robust sales of biosimilars as well as Spinraza, its spinal muscular atrophy product.

Geographical performance

Biogen’s revenues from the US markets decreased to $1.74 billion during the third quarter, compared to its revenues of $1.77 billion for the third quarter of 2017. This revenue growth was impacted by lower sales of Interferon and Tysabri in the US markets during the quarter. The company’s US revenue growth was aided substantially by strong sales of Tecfidera and Spinraza.

The company’s revenues from its Rest of the World markets increased to ~$1.04 billion during the third quarter, compared to revenues of $848.5 million in the third quarter of 2017. This revenue growth was driven by strong sales of Tecfidera, Tysabri, Spinraza, Benepali, and Flixabi in its international markets. This growth was partially offset by lower sales of Interferon, Fampyra, and Fumaderm.

The Invesco Dynamic Biotechnology & Genome ETF (PBE) holds 5.1% of its total investments in Biogen (BIIB), 5.6% in Amgen (AMGN), 5.4% in Vertex Pharmaceuticals (VRTX), and 5.4% in Regeneron Pharmaceuticals (REGN).


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