In FY23, expect mid-single digit revenue decline versus 2022. Says aligning Biogen’s cost base with revenue, prioritizing near-term potential launches while optimizing cost structure, and on track to achieve previously announced cost savings. Guidance assumes a favorable decision by the Court of Justice of the European Union relating to regulatory data protection for TECFIDERA, which is currently expected on March 16, "although Biogen cannot predict the outcome," the company noted. "Biogen expects modest in-market revenue for LEQEMBITM in 2023 with commercialization expenses exceeding revenue. Biogen will record its share of net commercial profits and losses for LEQEMBI in the U.S. as a component of total revenue, which is expected to be a headwind to revenue in 2023. This guidance assumes that foreign exchange rates as of December 31, 2022, will remain in effect for the remainder of the year, net of hedging activities," the company added.
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