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Biogen tops forecasts as newer medicines power Q3

Kalbir Talwar
Published Oct 28, 2026
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Summary:
  • Biogen outpaced Wall Street on both sales and profit, lifted by the recent purchase of an eye medication and by a therapy for a rare muscle disorder.
  • After the third-quarter beat, it raised the lower end of full-year profit guidance while leaving its revenue outlook unchanged.
  • Q3 revenue was $2.8 billion and adjusted EPS came in at $2.62, the company said Wednesday.

Results and what moved them

Third-quarter revenue rose 11% to $2.8 billion. Adjusted earnings per share were $2.62, ahead of estimates but well below last year because of charges tied to acquired research and development. Demand was strong for the acquired eye drug and a rare muscle-disorder therapy. Biogen also maintained its full-year revenue forecast.

New additions mattered. Products brought in through Biogen's $5.6 billion purchase of Apellis Pharmaceuticals Inc. in May added to growth, with Syfovre - a treatment for a condition that causes blindness - up 27% to $191 million.

Smart investors look for new tools that give a thoughtful, steady informational advantage. We're hosting our first ever investor livestream on 11/17 to show you how to use ChatGPT and Claude to invest like a pro, hosted by Briefs Finance CEO Jaspreet Singh. Save your seat.

Product highlights

Legacy franchises also chipped in. Some older drugs beat expectations. Spinraza, for spinal muscular atrophy, climbed 23%, helped by a new high dose. Leqembi, the Alzheimer's treatment Biogen sells with Eisai Co., increased 67% but was a touch under what analysts had modeled.

Strategy and what to watch

Chief Executive Officer Christopher Viehbacher has been cutting deals to refresh a maturing multiple sclerosis lineup, steering into eye disorders, kidney disease and immunology. With the stock up 44% this year, the market is watching whether that dealmaking keeps growth on track as Biogen nudges up the floor on profit guidance but holds its sales outlook steady.

Learning how technology can sharpen judgment is a simple way to improve outcomes. On 11/17, our CEO Jaspreet Singh goes live for our first ever investor livestream on how to use ChatGPT and Claude to invest like a pro. Register to join him.

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