Biogen increases financial guidance despite 25% revenue drop

The Cambridge drug company reported in its quarterly earnings Thursday that its revenue has dropped 25% over the last year, but investors are still bullish. In fact, the Cambridge biotech has upped its financial guidance by a minimum of $2 million for the 2021 fiscal year, bolstered by its growing multiple sclerosis portfolio and an expected increase in sales of the newly approved Alzheimer’s disease drug Aduhelm.