Biotechnology firm Biogen Inc. (NASDAQ: BIIB) reported lower earnings, on an adjusted basis, and revenues for the fourth quarter of 2023.
Total revenue declined 6% year-over-year to $2.39 billion. For the full year of 2024, 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 $249.7 million or $1.71 per share in Q4, compared to $550.4 million or $3.79 per share in the prior-year period. Adjusted earnings declined 27% to $2.95 per share in the December quarter.