Biogen — Jul 29, 2026 release

Full year 2026 Non-GAAP diluted EPS range is expected as follows: FY 2026 Non-GAAP Diluted EPS Guidance February 2026 April 2026 July 2026 Change Underlying guidance $15.25 to $16.25 $15.25 to $16.25 $15.85 to $16.85 +$0.60 Approximate impact from acquired IPR&D and milestone charges -- ($1.00) ~($3.00) ~($2.00) Expected dilution from the Apellis acquisition -- -- ~($0.85) ~($0.85) Reported Guidance $15.25 to $16.25 $14.25 to $15.25 $12.00 to $13.00 Full year total revenue is now expected to increase by a mid-single digit percentage for 2026 as compared to 2025 driven by continued revenue growth from our Growth Portfolio. Biogen expects combined Non-GAAP R&D expense and Non-GAAP SG&A expense to be between $2.65 billion and $2.70 billion for the second half of 2026. This guidance also assumes that foreign exchange rates as of July 24, 2026, will remain in effect for the remainder of the year, net of hedging activities. Other than the acquired IPR&D and milestone impact expressly stated above, this financial guidance does not include any other potential future acquired IPR&D and milestone charges, impact from potential acquisitions or business development transactions or pending and future litigation or any impact of potential healthcare reform, as all are difficult to predict. Other important financial considerations will be provided on the conference call and webcast. Biogen may incur charges, realize gains or losses, or experience other events or circumstances in 2026 that could cause any of these assumptions and expectations to change and/or actual results to vary from this financial guidance. Biogen does not provide guidance for GAAP reported financial measures (other than revenue) or a reconciliation of f