Biogen (Nasdaq: BIIB) today reported third-quarter results that beat the expectations of Wall Street analysts, upping its full-year guidance. The Cambridge, Massachusetts–based neurological biotech company earned $1.1 billion, or $7.84 per share, off $2.5 billion in revenue for the quarter ended Sept. 30, 2022. It more than tripled its bottom line even as the top…
Biogen is scaling back space outside Boston
According to reports, Biogen has taken steps to cut costs following the release of its Aduhelm Alzheimer’s disease drug. The company has moved to sublease more than 260,000 square feet at multiple locations in Massachusetts as it looks to cut $1 billion in costs, The Boston Globe reported. Across from its Cambridge, Massachusetts, headquarters, the company…
CMS will limit coverage of Aduhelm to people in clinical trials
The Centers for Medicare & Medicaid Services (CMS) released a national policy regarding coverage for Aduhelm (aducanumab). Controversy has surrounded the Alzheimer’s drug Aduhelm from Biogen (NSDQ:BIIB) and Eisai (TYO:4523) since the FDA’s fast track approval last year. Three members of an FDA advisory committee resigned after the approval. About a week later, nonprofit watchdog group Public Citizen called for high-profile resignations of…
Senate Finance Committee senators call for hearing on Medicare coverage of aducanumab
Senate finance Committee members Elizabeth Warren (D-MA) and Bill Cassidy (R-LA) are pushing to have a hearing to discuss the Medicare coverage of Aduhelm (aducanumab), Biogen’s controversial Alzheimer’s treatment, which recently won FDA approval. In a letter addressed to Senate Finance chair Ron Wyden (D-OR) and ranking member Mike Crapo (R-ID), Warren and Cassidy express…
10 of the best pharma companies to work for
The pharmaceutical industry is on the upswing and is poised to have a compound annual growth rate of 13.7% from 2020 to 2027, according to projections from Grand View Research. The industry’s resurgence is a good opportunity for employees in the sector, who frequently enjoy comfortable salaries. To get a sense of which pharmaceutical companies…
Biogen Q1 earnings beat estimates, raises EPS guidance
Biogen (NASDAQ: BIIB) posted first-quarter results that beat the Wall Street consensus forecast, with the company raising its 2021 earnings guidance. However, Biogen’s outlook for the rest of the year largely hinges on FDA decisions regarding its pipeline drugs aducanumab and zuranolone. The Cambridge, Mass.-based biotech earned $410 million, or $2.69 per share, off sales…
Biogen event seeded more than 300,000 COVID-19 infections: Study
A recent study linked an annual management conference in Boston from Biogen (NSDQ:BIIB) to hundreds of thousands of SARS-CoV-2 infections. Published in Science, the study concluded that the superspreader event “produced sustained community transmission and was exported, resulting in extensive regional, national, and international spread.” Following the event, 99 people contracted the virus, including employees and…