Biogen lowers forecast after disappointing 4th-qtr results
Biogen (Nasdaq: BIIB) has announced disappointing fourth-quarter results and lowered its financial forecast for the year ahead.
Shares in the US biotech firm wobbled initially in pre-trading, but managed to retain their value as markets digested the full details of the financial report.
The company announced lower-than-expected fourth-quarter revenue of $2.9 billion and net GAAP (generally accepted accounting principles) earnings of $649 million, or $2.99 per share, off 22% from like quarter of the previous year.
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