Unsatisfactory first quarter for Biogen, investors show distrust in the company

US-based biotech Biogen has announced today its Q1 2018 results, which have partly disappointed analysts and investors. Biogen’s shares firstly fell 2% (Nasdaq), but have offset the drop during the day.

The group delivered a $3.1bn sales volume over the first three months of the year, that is just below expectations ($3.15bn). The future blockbuster Spinraza, launched last year, has yielded positive performances, generating as much as $364m (+$317 vs Q4 2018) in the first quarter.

Analysts agree that Biogen’s pipeline is not solid enough to ensure the promised growth rates. Indeed, suffice it to say that the multiple sclerosis treatment area–a key sector to Biogen–has decreased by 7% as compared to Q1 2017. Additionally, investors have given signs of distrust in the development of an Alzheimer’s treatment, on which Biogen has made large investment, without any satisfactory results in clinical trials. Biogen has lost 25% of its capitalization over the last 3 months.

(Source: WSJ)