Biogen Surges to 417th in Trading Volume with $238 Million Turnover

On May 15, 2025, Biogen (BIIB) saw a significant increase in trading volume, with a turnover of $238 million, marking a 31.73% rise from the previous day. This surge placed Biogen at the 417th position in terms of trading volume for the day. The stock price of Biogen also rose by 2.77%.

Biogen reported strong first-quarter results for 2025, exceeding Wall Street's revenue expectations with sales up 6.1% year over year to $2.43 billion. The company's non-GAAP profit of $3.02 per share was 1.9% above analysts' consensus estimates. The adjusted EPS was $3.02, surpassing analyst estimates of $2.96. The adjusted EBITDA was $966.7 million, with a 39.8% margin, exceeding estimates by 13.5%.

Biogen's management highlighted the growth of newer products, including LEQEMBI, SKYCLARYS, and ZURZUVAE, which now constitute a significant portion of total revenue. The company's diversified portfolio and recent product launches, particularly the approval of LEQEMBI in Europe and SKYCLARYS in new markets, were emphasized. The CEO noted that these products have a long runway for continued growth.

Looking ahead, Biogen's guidance reflects caution due to persistent headwinds in its legacy multiple sclerosis (MS) business. The company expects a mid-single-digit revenue decline for the year, as the decline in MS revenue is anticipated to outpace the growth from new product launches. Uncertainties around tariffs and generic competition have also led to a reduced full-year adjusted EPS outlook.

Biogen's management attributed the first-quarter performance to strong sales momentum in its new product launches and ongoing challenges in its legacy MS segment. The company's evolving portfolio and pipeline progress were central themes. New product launches, including LEQEMBI, SKYCLARYS, and ZURZUVAE, accounted for approximately 45% of product revenue, supported by international launches and broader physician adoption. The LEQEMBI European approval was highlighted as a significant milestone.

Biogen initiated five Phase 3 clinical trials this year, advancing felzartamab in several immunology indications. The pipeline now spans both neurology and immunology, reducing historical dependence on a single therapeutic area. The company adapted its LEQEMBI launch strategy, including direct patient engagement and innovations like subcutaneous formulations for at-home use, aiming to address barriers to broader adoption.

The MS business continued to face revenue declines due to biosimilar and generic competition, particularly for TYSABRI and TECFIDERA. Management expects these pressures to intensify, especially with a potential TYSABRI biosimilar entering the U.S. market later in the year. Biogen's supply chain structure largely shields it from near-term tariff impacts, with most U.S. revenue generated from domestically manufactured products and a diversified international revenue base. However, ongoing monitoring is needed given the evolving trade environment.