Biogen Inc. (BIIB) Earnings Call Transcripts

Biogen Inc.'s Latest Earnings Call - Q2 FY2026

In Biogen's Q2 2026 earnings call, the company reported total revenue of $2.7 billion, up 3% year-over-year, and core pharmaceutical revenue of $1.8 billion, reflecting a 4% increase. The strong performance was driven by the growth portfolio, which generated over $1 billion in revenue, up 24% year-over-year. Management raised guidance, now expecting a mid-single-digit percentage increase in total revenue for the fiscal year, up from a previous forecast of a mid-single-digit decrease, signaling improved confidence in the company's growth trajectory.

Reported metrics

Guidance from management

Biogen raised its total revenue guidance for 2026 to a mid-single-digit percentage increase, reflecting improved performance expectations from its growth products and the recent Apellis acquisition.

What management said

Yes. And just the U.S. is actually 1 of the last countries to launch [ Axeon ] usually. So Japan, where we launched earlier as in Europe, that's where actually we're seeing, particularly in Germany, seeing a reversal of the trend of switching to oral therapy and some trending back now. I think it's still early days. And as Alisha said, it's largely first people moving from the lower dose to the high dose. But again...

You want to add anything, Alicia, in the market research. Because I think -- this is 1 of those ones where it's no 1 thing that's going to be a marker of success. You've got steroid sparing. One of the things that we consistently hear from patients is fatigue and yet you can't really build fatigue into an endpoint in the clinical trials as easily. So real-world evidence will play a role, but maybe you can say a few w...

What analysts pressed on

Analysts raised concerns about the competitive landscape in the lupus treatment market, questioning how Biogen's products would differentiate themselves. There were also inquiries regarding the potential impact of high-dose SPINRAZA on overall volumes and market share.

Main topics on the call

• Growth Portfolio Performance — Biogen's growth portfolio generated over $1 billion in revenue, up 24% year-over-year, indicating a successful transition from its legacy MS portfolio. Management noted, "Our growth portfolio now is greater than our lega...
• Acquisition of Apellis — The integration of Apellis is progressing well, with products SYFOVRI and EMPAVELI contributing $128 million in revenue since the acquisition. Management stated, "The Apellis acquisition accelerates our return to growth,...
• High-Dose SPINRAZA Launch — The launch of high-dose SPINRAZA is exceeding expectations, with revenue of $402 million, up 2% year-over-year. Management noted, "The pace of conversion to high dose has been going well," suggesting strong market accept...
• LEQEMBI IQLIK Approval — The FDA approval of LEQEMBI IQLIK is expected to broaden patient access, with management stating it could "make it easier for a broader section of patients to become eligible for treatment." This positions Biogen favorab...

Read the full Biogen Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 96 Biogen Inc. earnings call transcripts on record, spanning January 13, 2020 to July 29, 2026. Based on this history, Biogen Inc. reports quarterly. The most recent call on file is dated July 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

BIIB

Exchange

NasdaqGS

Country

US

Sector

Health Care

Industry

Biotechnology

Calls on record

96

First call

January 13, 2020

Most recent

July 29, 2026

Reporting cadence

quarterly