In solid first quarter, Spinraza revenues support Biogen's move into neuropsychiatry
East Coast, USA-based Biogen (Nasdaq: BIIB) has reported total revenues of $3.1 billion for the first three months of 2018, an 11% increase from the first quarter of last year, just shy of most analysts’ expectations.
Following generally accepted accounting principles, the company booked net income of $1.2 billion, a more than 50% increase from 2018, with earnings per share up 60% at $5.54.
Revenue growth was principally driven by spinal muscular atrophy (SMA) drug Spinraza (nusinersen), which added a third of a billion dollars in global takings, as well as biosimilars, which contributed $128 million.
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