Biogen posts strong Q2 earnings as Australian biotech firms report solid quarterly results

Biogen reported second‑quarter revenue of $2.7 billion, a 3% increase year‑over‑year, with diluted earnings of $0.66 per share on a GAAP basis and $3.60 on a non‑GAAP basis, beating analyst expectations. Sales of Spinraza rose 7% to $402 million, royalties from Roche’s Ocrevus added $381 million, and the multiple‑sclerosis franchise generated $963 million. Newer products also performed well, with Skyclarys sales reaching $168 million and Leqembi generating $184 million in global sales.

In Australia, biotech companies posted encouraging figures. Mesoblast earned $36 million from its Ryoncil therapy in the quarter, bringing its annual revenue to $115 million and leaving cash of $103 million after a $9.25 million burn. Actinogen Medical advanced its pivotal phase IIb/III Alzheimer’s trial, reporting $16.7 million in cash. Alterity Therapeutics announced plans for a phase III study of its MSA drug, holding $37.3 million in cash and receiving a $3.98 million R&D tax incentive.