Biogen Inc. ( BIIB ) surpassed market expectations for first-quarter profit, reporting adjusted earnings of $3.67 per share, outpacing analysts' forecasts of $3.44. The company's robust performance was buoyed by the growing traction of its new Alzheimer's drug, Leqembi, and significant cost-cutting measures. Shares of Biogen surged as much as 5.5% following the earnings announcement, marking the company's most substantial intraday gain since January 2023. The success of Leqembi, developed in collaboration with Japan's Eisai Co., is particularly notable. Sales of the Alzheimer's drug reached approximately $19 million in the quarter, nearly tripling analysts' average expectations. Despite logistical challenges hindering initial adoption, such as additional diagnostic tests and infusion requirements, doctors and hospitals are increasingly embracing Leqembi as a viable treatment option for patients. Biogen's CEO, Christopher Viehbacher, emphasized the posit