Biogen shares fall as it reports 4th-qtr financials

US biotech major Biogen (Nasdaq: BIIB) today reported fourth quarter and full year 2021 financial results and provided an earnings forecast that was below expectations, sending the firm’s shares down 4.3% to $215.28 in pre-market trading.

Fourth quarter total revenue of $2,734 million decreased 4% versus the prior year at both actual currency and constant currency. Full Year revenues of $10,982 million were down 18% versus the prior year at actual currency and 19% at constant currency.

Generally accepted accounting principles (GAAP) diluted earnings per share (EPS) for the fourth quarter were $2.50, down 6.8% and full year $10.40 versus $24.80. Non-GAAP diluted EPS for the fourth quarter were $3.39; compared to consensus of $3.31, and $19.22 for the full year.