Biogen's Q3 Profit Beats Expectations On Lower Multiple Sclerosis Revenues But New Products Offset Losses, Raises Profit Outlook

On Wednesday, Biogen Inc (NASDAQ:BIIB) reported third-quarter adjusted EPS of $4.08, down 6%, beating the consensus of $3.79.

The company reported sales of $2.47 billion, down 3% year over on constant currency and reported basis, beating the consensus of $2.43 billion.

Multiple sclerosis revenue of $1.05 billion decreased by 9% (down 9% on constant currency). The multiple sclerosis drug Tysabri sales were down to $406.1 million from $456.3 million.

Also Read: Biogen Terminates Collaboration With Sage Therapeutics For Neurological Disorder Candidate

Rare ...