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Biogen revenue trounces forecast as MS drug sales surge
July 23, 2014 / 11:08 AM / 3 years ago

Biogen revenue trounces forecast as MS drug sales surge

July 23 (Reuters) - Biogen Idec Inc reported sharply higher-than-expected quarterly revenue on surging sales of its new Tecfidera oral treatment for multiple sclerosis, and the company raised its full-year profit forecast.

The company on Wednesday said it had earned $723.1 million, or $3.01 per share, in the second quarter. That compared with $491 million, or $2.06 per share, a year earlier, when it took a legal settlement charge.

Global revenue rose 40 percent to $2.42 billion, well above the average forecast of $2.16 billion among analysts surveyed by Thomson Reuters I/B/E/S. (Reporting by Ransdell Pierson; Editing by Lisa Von Ahn)

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