Biogen Inc. (NASDAQ:BIIB) Cantor Fitzgerald Global Healthcare Conference Call September 18, 2024 1:20 PM ET
Company Participants
Chuck Triano – Head, Investor Relations
Conference Call Participants
Eric Schmidt – Cantor Fitzgerald
Eric Schmidt
Good afternoon, everyone. If you could take a seat? My name is Eric Schmidt, and my pleasure to host this next fireside chat with Biogen. We’re delighted to have with us today Chuck Triano, who heads the IR group there at Biogen.
Chuck, thank you very much for joining us.
Chuck Triano
Sure. It’s a pleasure. Thanks for having me, Eric.
Question-and-Answer Session
Q – Eric Schmidt
And I think probably everyone in the room is somewhat familiar with Biogen, but why don’t you give us just two minutes on kind of what you think is top of mind at the company today?
Chuck Triano
Sure, yeah. Thanks, and good afternoon, everybody. And quick safe harbor statement. Obviously, there will be forward-looking remarks, so actual results as we know may differ from those remarks.
But I think as we look at Biogen over the last couple of years, the change in leadership, the change in Board composition, governance, and I think a renewed focus on driving returns for shareholders. So, in business to help patients, of course. In business to generate an attractive return for shareholders, I think that’s a nice add-on to the view.
So, the focus had been a company that was declining in revenue, and while the revenue was declining, the cost structure really didn’t move. A company that generally swung for the fences, high risk, high reward, that many times didn’t pan out. And so, what we see today in terms of top of mind at the company, I’d isolate — maybe not isolate, but I would talk three general areas under this heading of driving returns for investors: stop the decline in revenue, flatten out; manage the cost
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