Biogen backs FY23 EPS view of $15.00-$16.00, consensus $15.43

Backs view of mid-single digit percentage decline in FY23 revenue versus reported full year 2022, consensus $9.6B. As of June 30, Biogen had cash, cash equivalents, and marketable securities totaling $7.286B and $6.285B in total debt, resulting in net cash of $1.002B. No shares of the company’s common stock were repurchased in the second quarter of 2023. As of June 30, there was $2.050B remaining under the share repurchase program authorized in October 2020, the company noted.