Biogen Inc posted a 72per cent rise in quarterly profit and lifted its 2019 earnings forecast on Tuesday, boosted by higher sales of its ...
REUTERS: Biogen Inc posted a 72per cent rise in quarterly profit and lifted its 2019 earnings forecast on Tuesday, boosted by higher sales of its top-selling multiple sclerosis therapy Tecfidera.
Shares of the company rose 5.4per cent to US$244.99 before the bell, as the U.S. biotechnology company raised its 2019 adjusted earnings forecast to between US$31.50 and US$32.30 per share from the prior range of US$28 to US$29.Analysts were expecting earnings of US$29.70 per share, according to IBES data from Refinitiv.
Net income attributable to the company rose to US$1.49 billion, or US$7.85 per share, in the quarter ended June 30, from US$866.6 million, or US$4.18 per share, a year earlier. Total revenue rose to US$3.62 billion from US$3.36 billion.
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