Biogen (BIIB) Q4 FY25 earnings call

Biogen concluded FY25 above guidance, driven by strong performance from growth products and new launches, which collectively generated approximately $4.3 billion. The company is actively transforming its pipeline, accelerating key Phase III readouts for litifilimab and felzartamab, and expanding its early-stage portfolio. Despite anticipated mid-single-digit revenue decline in 2026 due to MS erosion, Biogen is strategically investing in future launches and maintaining financial discipline to bridge to long-term growth.