Biogen Inc. (NASDAQ: BIIB) reported stronger-than-expected fourth-quarter 2025 results and issued an optimistic profit outlook for 2026, sending shares up more than 3% intra-day on Friday.

The biotechnology company posted adjusted earnings per share of $1.99, well above the analyst consensus of $1.61. Revenue came in at $2.28 billion, topping expectations of $2.21 billion, though sales declined 7% year over year.

Growth products continued to gain traction, with revenue increasing 6% year over year in the quarter. Global in-market sales of LEQEMBI reached approximately $134 million, representing a 54% year-over-year increase. ZURZUVAE generated about $66 million in revenue, reflecting strong demand growth, while SKYCLARYS expanded its global patient base by roughly 30% in 2025.

For fiscal 2026, Biogen forecast adjusted earnings per share in the range of $15.25 to $16.25, above the analyst consensus of $14.92. The company expects total revenue to decline by a mid-single-digit percentage compared with 2025, as further declines in multiple sclerosis products, excluding VUMERITY, are expected to be partially offset by continued growth in newer therapies.