Biogen (BIIB) Q1 FY25 earnings call

Biogen delivered a strong Q1 FY25, showcasing significant growth in its new launch products like LEQEMBI, ZURZUVAE, and SKYCLARYS, which now constitute 45% of product revenue. The company is actively diversifying its pipeline beyond neuroscience into immunology and rare diseases, with multiple Phase III initiations and key regulatory milestones. While the legacy MS portfolio continues to decline due to competition, Biogen maintains a strong balance sheet and is strategically pursuing external innovation to drive future growth.