Biotechnology firm Biogen Inc. (NASDAQ: BIIB) reported lower earnings, on an adjusted basis, and revenues for the second quarter of 2023.
Total revenue declined 5% year-over-year to $2.46 billion. For the full year of 2023, the company expects revenues to decline in the mid-single digit percentage and projects adjusted earnings per share in the range of $15.00 to 16.00.
Net income attributable to Biogen Inc. was $591.6 million or $4.07 per share in Q2, compared to $1.06 billion or $7.24 per share last year. Adjusted earnings declined 23% to $4.02 per share.