Results for: Drug Sales

Biogen Inc (BIIB) reported a mixed set of financial results for the first quarter of 2024. While adjusted EPS beat consensus, sales fell short of expectations. The company’s multiple sclerosis and rare disease revenues declined, but Leqembi sales accelerated, reaching approximately $19 million globally. Biogen maintained its guidance for the fiscal year 2024, with an expected EPS of $15.00-$16.00 and a low- to mid-single-digit percentage decline in total revenue. Analysts noted that the Leqembi launch faced headwinds, and the bottom-line beat was driven by cost-cutting initiatives.

Following the tragic death of their 16-year-old son Sammy, who purchased a fentanyl-laced pill on Snapchat, Sam Chapman and Laura Berman are advocating for Sammy’s Law. This legislation (SB 1444) aims to require major social media platforms to allow integration with third-party monitoring software, empowering parents to detect potential dangers such as drug sales, firearm sales, bullying, or suicidal thoughts on their children’s accounts. While the bill faces opposition from technology industry groups and civil liberty organizations citing concerns about user privacy and data misuse, it has incorporated safeguards and amendments to address these issues. If passed, Sammy’s Law would potentially have a significant impact by protecting children from social media-related risks and driving changes in social media companies’ practices at a national level through the ‘California Effect.’