Feb 6 (Reuters) – Biogen forecast 2026 profit above Wall Street estimates on Friday, banking on demand for newer medicines and its Alzheimer’s ​treatment Leqembi as older multiple sclerosis drugs battle pressure from cheaper ‌versions.

The U.S. drugmaker also posted better-than-expected fourth-quarter results, helped by higher contributions from newer rare-disease ‌and specialty medicines such as Friedreich’s ataxia drug Skyclarys and postpartum depression treatment Zurzuvae, alongside ongoing cost-cutting measures.

Biogen expects adjusted profit between $15.25 and $16.25 per share for 2026, above analysts’ average expectation of $14.92.

However, total revenue is expected to decline by ⁠a mid-single digit percentage year-on-year, ‌as the company expects further declines in sales of its multiple sclerosis therapies.

Global sales of Leqembi, which the company sells ‍with Japan’s Eisai, rose 54% to about $134 million from a year earlier, following a slow uptake amid concerns over cost, efficacy and side effects. The Wall Street consensus ​was at $129 million, according to brokerage Bernstein.

Biogen received U.S. approval for a ‌weekly under-the-skin injection of Leqembi last year, allowing for an easier treatment option following an initial intravenous infusion.

The U.S. Food and Drug Administration is expected to decide on a subcutaneous starting dose for Leqembi by May 24.

On an adjusted basis, Biogen earned $1.99 per share for the three months ended December 31, ⁠topping expectations of $1.59, according to data compiled ​by LSEG.

Total revenue came in at $2.3 billion ​for the quarter, above expectations of $2.2 billion.

Sales of multiple sclerosis drugs such as Tecfidera fell more than 14% to $917 million.

Its rare ‍disease portfolio, which includes ⁠Skyclarys and spinal muscular atrophy drug Spinraza, posted sales of $515 million in the fourth quarter, down nearly 4% from a year earlier.

The decline ⁠was driven by a 15% drop in Spinraza sales due to the timing of shipments ‌outside the U.S., Biogen said.

(Reporting by Kamal Choudhury and Mariam Sunny ‌in Bengaluru; Editing by Sriraj Kalluvila)