Biogen Q2 Revenue $2.7B (+3%); Non-GAAP EPS $3.60; FY26 EPS Guidance Cut

Biogen reported Q2 2026 total revenue of $2.7 billion, a 3% increase year-over-year, driven by a 24% growth in its Growth Portfolio to $1.06 billion. Non-GAAP diluted EPS was $3.60, a 34% decrease, primarily due to deal-related charges and investments in pipeline programs. The company updated its full-year 2026 Non-GAAP diluted EPS guidance to $12.00-$13.00, reflecting the impact of the Apellis acquisition and increased investments, while raising its full-year revenue growth outlook to a mid-single digit percentage. Biogen highlighted significant pipeline progress, including five registrational readouts expected over the next four quarters and the advancement of Diranersen to Phase 3 for Alzheimer's disease.