3Q EARNINGS: Tecfidera sales soar, but PML death hits Biogen
This article was originally published in Scrip
Executive Summary
Biogen Idec's stock closed down 5.4% at $309.07 per share on 22 October even though sales for its oral multiple sclerosis drug Tecfidera (dimethyl fumarate) soared in the third quarter to $787.1m from $286.4m a year ago, boosting the company's total revenue by 37% to $2.5bn for the July-to-September period.