Biogen's 2017 2nd-qtr beats forecasts but leaves investors uncertain
US biotech Biogen (Nasdaq: BIIB) had an up-and-down morning in the stock market on Tuesday after announcing its results for 2017’s second quarter.
Its share price was 0.3% down after three hours trading as markets digested a set of results that beat analysts’ estimates. The sales total, of $3.1 billion, was 6% higher than the figure for 2016’s second quarter and well above estimates of $2.81 billion, according to the Financial Times.
When excluding all hemophilia revenues from a year ago, the revenue rise is 15%, with Biogen having spun out its business in this therapy area into a quoted company, known as Bioverativ (Nasdaq: BIVV), at the beginning of this year.
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