Biogen (BIIB) Q2 FY26 earnings call

Biogen is undergoing a significant transformation, with the successful integration of the Apellis acquisition and strong performance from its growth product portfolio driving a shift towards sustainable revenue growth. The company is also rebuilding its early-stage pipeline and advancing a robust late-stage pipeline, including multiple registrational readouts expected in the near term, positioning it for long-term value creation despite near-term integration and R&D investment costs.