BIIB Stock | Biogen Q1 2019 Earnings Call

Описание: Spinraza helps Biogen beat the street in Q1

A month after announcing the withdrawal from its Phase 3 Alzheimer’s trials, biopharma firm Biogen (NASDAQ: BIIB) on Wednesday reported first-quarter earnings that surpassed Wall Street expectations. The company reported adjusted earnings of $6.98 per share, higher than the street projection of $6.88 per share.
On a GAAP basis, earnings grew 29% to $7.15 per share.
Revenue grew 11% to $3.49 billion, but missed the target of $3.38 billion set by analysts. The topline was primarily boosted by its Spinal Muscular Atrophy drug Spinraza as well as its biosimilars.
Revenue from Spinraza grew 10% year-over-year to $518 million. Meanwhile, Multiple Sclerosis drug Tecfidera showed only 1% growth to $999 million, hurt by cut-throat competition from peers.

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