Biogen Inc. (NASDAQ:BIB) on Friday reported better-than-expected fourth-quarter earnings, with adjusted EPS of $1.99, beating the $1.59 consensus.

The Alzheimer’s drug maker reported revenue of $2.28 billion, beating the consensus of $2.2 billion, down 7% on a reported constant currency basis.

Biogen said on Friday that fiscal 2025 revenue from growth products rose 19% year-over-year and offset year-over-year revenue declines from multiple sclerosis products, excluding Vumerity.

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Collaborative revenue for Leqembi (Alzheimer’s drug) was $47 million, with market sales of about $134 million, up 54%, booked by Eisai. US market sales of approximately $78 million, representing continued growth.

Multiple sclerosis revenue of $917 million decreased 14% (down 15% at constant currency). Sales of the multiple sclerosis drug Tysabri fell to $397.5 million from $415.4 million.

Rare disease revenue decreased 4% year-over-year (-4% constant currency) to $514.6 million. Spinraza revenue declined to $356.2 million from $421.4 million a year ago.

Spinraza’s fourth-quarter revenue was down 15% year-over-year, impacted by the timing of shipments outside the US, with full-year revenue down 2% year-over-year.

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Revenue from Skyclarys (Friedreich’s ataxia drug), acquired through the Reata acquisition, reached $133.4 million in the quarter, up from $102.2 million a year ago.

Skyclarys to grow global patients on therapy approximately 30% by 2025; Fourth quarter US revenue of approximately $89 million was driven by demand growth, with ex-US revenue of approximately $44 million reflecting continued demand growth, also impacted by a one-time chargeback.

Fourth-quarter Zurzuvae (postpartum depression drug) revenue of approximately $66 million showed continued strong demand growth. Vumerity grew 3% year-over-year in the fourth quarter to $181.1 million.

“Our 2025 performance reflected a continued focus on strong execution and financial discipline, driven by our nearly $1 billion in revenue from LEQEMBI, SKYCLARYS, ZURZUVAE and QALSODY, the progression of our pipeline and the resilience of our MS franchise,” he commented. Christopher ViehbacherPresident and CEO.

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Biogen expects fiscal 2026 earnings of $15.25 to $16.25 per share, compared with the $14.92 consensus.

The company expects revenue to decline in the mid-single digits compared to 2025, as further declines in revenue from multiple sclerosis products, excluding Vumerity, are expected to be partially offset by increased revenue from growth products.

Biogen expects revenue from multiple sclerosis products, excluding Vumerity, to decline by a mid-teens percentage from fiscal 2025.

Biosimilars are expected to continue to decline in low double-digit percentages.

The company expects approximately $300 million in contract manufacturing revenue in each of the first and second half of 2026.

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This article Biogen hits 52-week high, sales jump for Alzheimer’s drug originally appeared Benzinga.com