Big-cap biotech Biogen (BIIB) missed Wall Street’s Q1 estimates Friday as its multiple-sclerosis drug Tecfidera ran into unexpected headwinds, sending its stock down to a two-month low in early trading. Biogen’s earnings excluding one-time items rose 55% over the year-earlier quarter to $3.82 a share, 9 cents short of analysts’ consensus. Sales rose 20% to $2.6 billion, about $100 million below the Street’s average estimate. The shortfall was
Biogen (BIIB) on Friday morning is expected to report earnings of $3.91 a share, up 58% vs. a year earlier. That would end a three-quarter string of accelerating growth. Sales should show a 25% advance to $2.66 billion, a solid gain but the fourth straight quarter of decelerating growth. Biogen relies heavily on multiple sclerosis drugs such as Tecfidera and Avonex, which should enjoy another strong quarter. But investors and analysts will be on
A psoriasis patient reportedly died from a rare brain infection after taking a high dose of a drug containing dimethyl fumarate, the active ingredient in Biogen’s (BIIB) bestselling multiple sclerosis treatment Tecfidera. The Dutch patient, who died of a progressive multifocal leukoencephalopathy (PML) infection, was not taking Tecfidera or any Biogen drug, said Bloomberg News, citing the New England Journal of Medicine. Experts say the incident