Biogen Q1 revenue down 6%, EPS miss; CEO Michel Vounatsos to step down; ADUHELM infrastructure cut

BIOGEN INC.

Q1 revenue $2.532B (-6% YoY); GAAP EPS $2.06, Non-GAAP EPS $3.62, both impacted by $0.76 ADUHELM write-offs
Company to eliminate most ADUHELM commercial infrastructure after negative Medicare coverage decision
Completed sale of biosimilar JV stake for up to $2.3B in April; reaffirmed 2022 financial guidance
CEO Michel Vounatsos to step down; search for successor underway; he remains CEO during interim period

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Michel Vounatsos

Chief Executive Officer

BIIB · BIOGEN INC.

Filed: May 3, 2022, 7:59 PM ET

Mr. Vounatsos will remain on the Board of Directors of Biogen until he steps down from his CEO position.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Michel Vounatsos departed as Chief Executive Officer at BIOGEN INC..

Action: stepping down
Role: Chief Executive Officer

Exact text from the filing

Mr. Vounatsos will remain on the Board of Directors of Biogen until he steps down from his CEO position.

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BIOGEN INC. filing history →

Source: SEC EDGAR

accession 0000875045-22-000013

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