Biogen on Wednesday beat Wall Street estimates for quarterly profit, but failed to ease investor concerns about long-term growth after it recently shelved the development of an Alzheimer's drug.
Biogen on Wednesday beat Wall Street estimates for quarterly profit, but failed to ease investor concerns about long-term growth after it recently shelved the development of an Alzheimer's drug that was expected to be its next blockbuster, sending its shares down 2 percent.
"The plan A was always to prepare Biogen for growth even without aducanumab," Chief Executive Officer Michel Vounatsos said."I believe Biogen is set to rebound and I fundamentally believe we will be back." The company's growth driver Spinraza, used for treating spinal muscular atrophy, brought in $518 million in the quarter, beating Refinitiv IBES estimates of $486.4 million.
Sales of Biogen's top-selling multiple sclerosis drug Tecfidera came in at $999 million in the quarter, but narrowly missed consensus estimates.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Biogen beats first-quarter profit estimates on Spinraza strengthDrugmaker Biogen Inc beat analysts' estimates for first-quarter profit on W...
Weiterlesen »
Dollar broadly higher in thin post-holiday trade; euro, Aussie dipThe dollar edged up against a basket of key rivals on Tuesday, while the Canadia...
Weiterlesen »
Biogen beats first-quarter profit estimates on Spinraza strengthDrugmaker Biogen Inc beat analysts' estimates for first-quarter profit on W...
Weiterlesen »
What impressed Warren Buffett when he first met LeBron James—and it wasn't his basketball skillsThis is what impressed Warren Buffett when he first met LeBron James—and it wasn’t his basketball skills. via CNBCMakeIt
Weiterlesen »
Talks between Afghan leaders and Taliban canceled, in setback to U.S.-led peace processOrganizers called off the talks amid disputes over the size and composition of the Afghan government’s delegation.
Weiterlesen »
SpaceX suffers massive setback in its goal for astronaut launches after capsule accidentOver the weekend, the Dragon crew capsule was engulfed in smoke and flames at an engine test area.
Weiterlesen »
Twitter’s user numbers and sales impress, and its stock leapsTwitter topped first-quarter sales projections and reported strong user growth, bolstered by changes to its social-media service that are drawing a wider audience of users and advertisers.
Weiterlesen »
Sen. Bernie Sanders gets mayor's pension — his campaign co-chair has blasted such 'double dipping'Sen. Bernie Sanders of Vermont, who is seeking the Democratic presidential nomination, draws a pension for having once been the mayor of Burlington. His campaign co-chair, Rep. Ro Khanna of California, previously criticized such double-dipping.
Weiterlesen »
Oil dips on well supplied markets despite tighter Iran sanctionsOil prices inched lower on Wednesday on signs that global markets remain adequat...
Weiterlesen »
Oil dips as supply adequate despite Iran sanctions, but market tighteningOil prices fell on Wednesday amid signs that global markets remain adequately su...
Weiterlesen »