Biogen Reports Q3 Earnings Beat Driven by Multiple Sclerosis Franchise
Biogen (BIIB) reported third-quarter financial results that exceeded analyst expectations, primarily driven by strong performance within its multiple sclerosis drug portfolio. The Cambridge-based biotechnology company generated $2.8 billion in revenue for the quarter. Following the positive earnings report, Biogen raised its full-year earnings outlook. The news triggered an upward movement in the company's share price during premarket trading as investors reacted to the improved financial guidance and robust franchise performance.