Biogen Inc.
(NASDAQ:BIIB) stock is trading higher on Wednesday after the company reported second-quarter adjusted earnings of $3.60 per share, beating the consensus of $2.96.
Revenue Tops Expectations On Growth Across Key Products The Alzheimer's drug maker reported revenues of $2.736 billion, beating the consensus of $2.458 billion, up 3% on a reported and 2% on a constant currency basis.
Spinraza revenue of $402 million, up 2% year-over-year, driven by demand and stocking for the high-dose regimen, partially offset by shipment timing in certain ex-U.S. markets; conversion to the high-dose Read Also: Why Is Biogen Stock Falling Tuesday? regimen has been ahead of company expectations in all launched geographies.
Vumerity revenue of $197 million, down 7% year-over-year, primarily impacted by inventory dynamics; first half growth of 7% year-over-year.
