Biogen flips 2026 revenue guidance from expected decline to sales increase

Biogen flipped its 2026 full-year revenue guidance from an expected mid‑single‑digit percentage decline to a mid‑single‑digit percentage increase, driven by stronger performance from growth products, TYSABRI, and the addition of SYFOVRE and EMPAVELI to its portfolio.

Earlier in the year, the company had forecast a mid‑single‑digit decline in 2026 revenue versus 2025, citing ongoing erosion in its multiple sclerosis (MS) product franchise, but that view has now been reversed as new medicines and recent acquisitions offset the MS declines.

Alongside the revenue guidance boost, Biogen updated its non‑GAAP diluted EPS guidance to a range of $12.00–$13.00 for the year, reflecting about $3.00 in acquired in‑process R&D and milestone charges plus roughly $0.85 of dilution tied to the Apellis transaction.