Biogen's Financial Growth in Q4 2024

Biogen has reported a 3% increase in total revenue for the fourth quarter of fiscal 2024, amounting to $2.5 billion compared to the previous year. Despite a 2% decrease in annual revenue to $9.7 billion, the company highlights significant progress in its commercial portfolio, aiming for long-term sustainable growth.

Net Income and Future Outlook

The net income for the quarter ending December 31 rose to $266.8 million, or $1.83 per diluted share. Annually, net income increased to $1.6 billion, or $11.18 per diluted share. President and CEO Christopher A. Viehbacher emphasized the importance of 2024 in achieving long-term growth, particularly through ongoing product launches like LEQEMBI, which presents a substantial long-term opportunity.

Market Response

Following the announcement, Biogen's shares remained stable in premarket trading, indicating a steady investor confidence in the company's growth trajectory and future prospects.