Biogen Inc


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SKU: BIIB Category:


Biogen’s first-quarter results narrowly beat the Wall Street estimates owing to a decent performance by multiple sclerosis (MS), spinal muscular atrophy (SMA), and biosimilars. Two of the positives include the upside from sales of Ocrevus, which is marketed by Roche as well as the Newer MS drug Vumerity that picked up momentum. However, the company faces a significant set of challenges that come with intense competition and declining sales for products like Tecfidera. Moreover, Biogen remains at a crucial point as it awaits the fate of its Alzheimer’s disease drug, Aducanumab due for review by the FDA on June 7, 2021. The approval of Aducanumab remains incredibly important as it will extend Biogen’s leadership in neurology beyond multiple sclerosis and spinal muscular atrophy and can do wonders for the overall growth of the company. We maintain our ‘Underperform’ rating on the stock for this quarter.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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