Biogen beats expectations with third quarter results

The USA’s Biogen (Nasdaq: BIIB) has released its third quarter 2017 financial results statement, revealing better-than-expected profit and revenue figures.

Total revenues were $3.1 billion, a 4% increase on the prior year, or 13% if hemophilia revenues from the  now spun-out hemophilia business are excluded.

Earnings rose to $1.23 billion, up from $1.03 billion for the equivalent period in the previous financial year. Following generally accepted accounting principles (GAAP), that equates to $5.79 per share, up from $4.71 per share, a 23% increase.