Biogen beats estimates with earnings and revenues

22 July 2020

Shares in US biotech Biogen (Nasdaq: BIIB) were up by 1.5% following 90 minutes of trading on Wednesday after the company presented its second quarter financial results.

Second quarter total revenues were $3.68 billion, a 2% increase versus the second quarter of 2019 and ahead of analyst expectations of $3.43 billion.

Important to this was Tecfidera (dimethyl fumarate), Biogen’s best-selling treatment, which generated sales of $1.18 billion in the quarter, ahead of Wall Street estimates of $1.11 billion.

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