Biogen revenue climbs, while Spinraza, Tecfidera sales miss

Drug developer Biogen reported a 11.4 percent rise in quarterly revenue as sales of key drugs Tecfidera in addition to Spinraza climbed, albeit at a weaker-than-expected pace.

The company’s top-earning multiple sclerosis drug Tecfidera brought in a revenue of $987 million inside quarter, falling short of analyst estimate of $1.02 billion.

Sales of spinal muscular atrophy treatment Spinraza were $364 million, missing estimate of $381.55 million.

Net income attributable to shareholders rose to $1.17 billion inside first quarter ended March 31, or $5.54 per share, coming from $747.6 million or $3.46 a share, a year earlier.

Revenue rose 11.4 percent to $3.13 billion.

Shares of the company were marginally down at $258.79 in premarket trading.

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