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Stock impact report

Biogen stock drops 2% after Q1 sales miss [MarketWatch]

Biogen Inc. (BIIB) 
Last biogen inc. earnings: 4/22 07:12 am Check Earnings Report
US:NASDAQ Investor Relations: biogen.com/en_us/investors.html
Company Research Source: MarketWatch
Biogen stock drops 2% after Q1 sales miss Biogen Inc. BIIB, -0.98% shares dropped 2.4% in premarket trade Tuesday after the company reported a first-quarter sales miss. Earnings for the latest quarter rose to $1.2 billion, or $5.54 per share, from $748 million, or $3.46 per share in the year-earlier period. Adjusted earnings-per-share were $6.05, compared with the FactSet consensus of $5.93. Revenue rose to $3.13 billion from $2.81 billion, compared with the FactSet consensus of $3.15 billion. Revenue growth was largely driven by $364 million in revenue for the rare disease therapy Spinraza, compared with $47 million in the year-earlier period and $363 million in the fourth quarter, biosimilar revenue of $128 million and "other" revenues of $164 million, the company said. Even so, sales of Spinraza -- which has come to be one of Biogen's most important drugs -- came in below the FactSet consensus of $383 million. Company shares have plummeted 25% over the last three months, compare Show less Read more
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