Biogen EPS up 29% to $7.15 in Q1

Wednesday, 24. April 2019 12:32

Biogen Inc. said on Wednesday that its revenue for the first quarter of 2019 increased by 11% on an annual basis to reach a figure of $3.5 billion. The United States biopharmaceutical company's GAAP net income soared 20% year on year to $1.4 billion, while GAAP diluted earnings per share surged 29% to $7.15.

Multiple sclerosis revenues stood at $2.1 billion, while the global launch of the spinal muscular atrophy medication Spinraza contributed $518 million to the total revenues. Biosimilars revenues were up to $175 million.

"Biogen delivered strong financial results in the first quarter driven by the solid operational performance of our MS, SMA, and biosimilars franchises," CEO Michel Vounatsos stated and added the company is "deeply disappointed with the discontinuation of Aducanumab for Alzheimer’s disease."

Biogen shares were up 0.78% in premarket trading.

Related Links: Biogen Inc.
Author:
Breaking the News / NP