logo
Plus   Neg
Share
Email

Biogen Q3 Profit Tops Estimates; Revenue Up 5% - Quick Facts

Biogen Inc. (BIIB) said it delivered solid performance in the third quarter driven by continued resilience from its MS core business and growth from SPINRAZA and biosimilars. Non-GAAP earnings per share increased 24 percent from previous year. SPINRAZA revenues grew 17 percent from prior year.

Third quarter non-GAAP earnings per share was $9.17 compared to $7.40, last year. On average, 27 analysts polled by Thomson Reuters expected the company to report profit per share of $8.27, for the quarter. Analysts' estimates typically exclude special items.

Third quarter total revenues were $3.60 billion, a 5 percent increase from the third quarter of 2018. Analysts expected revenue of $3.54 billion, for the quarter.

Shares of Biogen Inc. were up more than 34% in pre-market trade on Tuesday.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
New York Attorney General Letitia James has fled a lawsuit against Vyera Pharmaceuticals and two of its former CEOs, including imprisoned 'Pharma Bro' Martin Shkreli, for illegally monopolizing a life-saving drug Daraprim. The lawsuit seeks a lifetime ban on Shkreli and his business partner Kevin Mulleady working in the pharmaceutical industry. Graco Inc. (GGG) shares were climbing more than 7 percent in morning trade. Monday after market close, the company had reported a surge in the fourth-quarter earnings to $84.8 million from $73.7 million in the prior year. Earnings per share surpassed analysts' estimates. Sales were up 1 percent to $412.3... Strategy of getting multiple indication approvals for the same drug seems to be paying off for AstraZeneca PLC (AZN), in terms of higher likelihood of approval and improved sales. Besides, the company is realizing value from non-core, mature brands to invest in new drugs, which also seems to be working in its favor.
Follow RTT
>