Biogen announced on Wednesday that its total revenue for the fourth quarter of fiscal 2024 jumped 3% to $2.5 billion year-over-year. For the full 2024, revenue fell 2% to $9.7 billion.
In its report, the company added that progress in the commercial portfolio continued in the last reported period, adding a new foundation with the goal of long-term sustainable growth. In that regard, net income for the three months ended December 31 increased to $266.8 million, or $1.83 per diluted share. Meanwhile, on an annual basis, net income rose to $1.6 billion, or $11.18 per diluted share.
"We believe 2024 was an important year on our journey to deliver long-term sustainable growth. We delivered continued revenue growth from our ongoing product launches, including LEQEMBI, where we believe there remains a significant long-term opportunity," President and Chief Executive Officer Christopher A. Viehbacher said.
Following the report's release, Biogen's shares were virtually flat in premarket trading.
