Biogen's Resilient Performance Drives Updated Sales Outlook Amid New Product Momentum

Biogen, a leading player in the pharmaceutical industry, has raised its sales forecast for 2025, citing the robust performance of its legacy multiple sclerosis (MS) franchise and the growing traction of its new product launches. The company's third-quarter results have exceeded expectations, signaling a positive trajectory after years of declining sales.

Legacy MS Franchise Remains Steadfast

Despite facing generic competition and increased adoption of anti-CD20 therapies, Biogen's MS product portfolio continues to demonstrate resilience. The franchise reported a 1% year-over-year growth, contributing $1 billion to the company's quarterly revenue. This unexpected stability has played a crucial role in Biogen's decision to revise its 2025 financial guidance, now projecting a 1% growth compared to the previously anticipated flat performance.

New Product Launches Gain Momentum

Biogen's strategic focus on "market creation" is beginning to bear fruit, with several recent launches showing promise:

• Leqembi, an Alzheimer's disease treatment developed in partnership with Eisai, reported global third-quarter sales of $121 million, representing an 82% year-over-year increase. The drug's prescriber base in the U.S. grew by 14% over the quarter, maintaining its position as the top prescribed anti-amyloid therapy.

• Skyclarys, indicated for Friedreich's ataxia, has expanded its reach to 34 countries, highlighting Biogen's commitment to global market penetration.

• Zurzuvae, a treatment for postpartum depression, is reportedly performing above expectations, although specific figures were not disclosed.

Strategic Shifts and Future Prospects

CEO Chris Viehbacher is steering Biogen towards a more diversified portfolio, with a particular emphasis on the immunology space. The company's recent acquisition of Vanqua Bio, valued at up to $1 billion, has bolstered its immunology pipeline with a preclinical oral C5aR1 antagonist. This complements Biogen's in-house izastobart, currently under evaluation as a potential lupus treatment.

Looking ahead, Biogen anticipates potential growth from a high-dose version of its spinal muscular atrophy medication, Spinraza. The company expects an FDA decision on this new formulation by April 3, 2026, following a recent resubmission after a manufacturing-related rejection.

As Biogen continues to navigate the evolving pharmaceutical landscape, its ability to maintain a strong MS franchise while simultaneously building momentum in new therapeutic areas will be crucial for sustained growth and market leadership.