Biotechnology firm Biogen Inc. (NASDAQ: BIIB) Thursday reported a year-over-year decrease in adjusted profit for the first quarter of 2025, despite an increase in revenues.
Total revenue rose 6% year-over-year to $2.4 billion in the March quarter. For the full year of 2025, the company expects revenues to decline by a mid-single-digit percentage annually, at constant currency, and projects adjusted earnings per share in the range of $14.50 to $15.50.
Net income attributable to Biogen was $240.5 million or $1.64 per share in Q1, down 39% from the prior-year period. Adjusted earnings decreased 18% annually to $3.02 per share in the first quarter.