Biogen (NASDAQ: BIIB) Reports Q2 2026 Earnings Before Market Open Wednesday July 29 With Revenue of $2.74 Billion (+3% Year-Over-Year), GAAP EPS $0.66, and Non-GAAP EPS $3.60 Beating Wall Street Consensus, Plus FDA Approval Announced for LEQEMBI IQLIK (Lecanemab-Irmb Subcutaneous Autoinjector) at-Home Initiation Dosing; The May 14, 2026 Apellis Acquisition Contributed $128 Million in Combined SYFOVRE (Pegcetacoplan Intravitreal) and EMPAVELI (Pegcetacoplan Subcutaneous) Partial-Quarter Revenue With Estimated Run-Rate Synergies of at Least $250 Million Exiting 2027
Biogen (NASDAQ: BIIB) reported Q2 2026 earnings before market open Wednesday July 29, 2026 with total revenue of $2.74 billion (+3% year-over-year), GAAP diluted EPS of $0.66, and non-GAAP diluted EPS of $3.60, beating Wall Street consensus. Growth-portfolio drugs (LEQEMBI, SKYCLARYS, SYFOVRE, and EMPAVELI) delivered year-over-year growth and, in aggregate, growth-portfolio revenue exceeded $1 billion for the quarter, surpassing Biogen's legacy multiple sclerosis franchise. Two major pipeline milestones anchored the earnings call: the FDA approved LEQEMBI IQLIK (lecanemab-irmb, a subcutaneous autoinjector formulation) for at-home initiation dosing (following the earlier approval of LEQEMBI IQLIK for maintenance dosing), providing patient-friendly dosing throughout the treatment course; and the Apellis acquisition that closed May 14, 2026 contributed $128 million in combined SYFOVRE (pegcetacoplan intravitreal, for geographic atrophy) and EMPAVELI (pegcetacoplan subcutaneous, for paroxysmal nocturnal hemoglobinuria and C3 glomerulopathy) revenue in the partial quarter. Biogen expects approximately 0.85 EPS dilution from the Apellis acquisition in 2026 with accretion in 2027 and estimated run-rate synergies of at least $250 million exiting 2027. 2026 revenue guidance raised to mid-single-digit growth with non-GAAP EPS guidance of $12-13.