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Biogen Inc.$315.54($4.87)(1.52%)

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 BIOGEN Q2 2018 REVENUES INCREASE 9% TO $3.4 BILLION
   Tuesday, July 24, 2018 6:30:00 AM ET

GAAP diluted EPS increased 3%; Non-GAAP diluted EPS increased 15%

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Cambridge, Mass., July 24, 2018 -- Biogen Inc. (Nasdaq: BIIB) today reported second quarter 2018 financial results, including:
  • Total revenues of $3.4 billion, a 9% increase versus the prior year. o Multiple sclerosis (MS) revenues were $2.3 billion, including approximately $113 million in royalties on the sales of OCREVUS®. o Revenue growth was driven principally by SPINRAZA®, which contributed $423 million in global revenues.
  •  GAAP net income and diluted earnings per share (EPS) attributable to Biogen Inc. of $867 million and $4.18, respectively, compared to $863 million and $4.07 in the second quarter of 2017, respectively. o In the second quarter of 2018 GAAP net income and diluted EPS were impacted by $589 million and $2.84, net of tax, respectively, related to the new collaboration agreement with Ionis Pharmaceuticals, Inc. (Ionis), the acquisition of BIIB104 from Pfizer Inc., the option payment to Neurimmune SubOne AG (Neurimmune) to further reduce royalty payments on potential commercial sales of aducanumab and the option agreement with TMS Co., Ltd. (TMS). o In the second quarter of 2017 GAAP net income and diluted EPS were impacted by $447 million and $2.11, net of tax, respectively, related to the asset purchase agreement with Remedy Pharmaceuticals Inc. for BIIB093 and the license agreement with Bristol-Myers-Squibb Company (BMS) for BIIB092.
  •  Non-GAAP net income and diluted EPS attributable to Biogen Inc. of $1.2 billion and $5.80, respectively, compared to $1.1 billion and $5.04 in the second quarter of 2017, respectively. 2 o In the second quarter of 2018 Non-GAAP net income and diluted EPS were impacted by $314 million and $1.52, net of tax, respectively, related to the new collaboration agreement with Ionis and the option agreement with TMS. o In the second quarter of 2017 Non-GAAP net income and diluted EPS were impacted by $331 million and $1.56, net of tax, respectively, related to the license agreement with BMS for BIIB092.


For the full press release, please go here .



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