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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.

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