October 22, 2019 / 11:03 AM / a month ago

Biogen third-quarter profit rises 7% on Spinraza strength

FILE PHOTO: A sign marks a Biogen facility in Cambridge, Massachusetts, U.S. January 26, 2017. REUTERS/Brian Snyder

(Reuters) - Drugmaker Biogen Inc (BIIB.O) reported a 7.1% rise in third-quarter profit on Tuesday, boosted by higher demand for its rare muscle disease drug, Spinraza.

Net income attributable to the company rose to $1.55 billion, or $8.39 per share, in the quarter ended Sept. 30, from $1.44 billion, or $7.15 per share, a year earlier. (bit.ly/2N0C8ed)

Total revenue rose to $3.60 billion from $3.44 billion.

Reporting by Manas Mishra and Trisha Roy in Bengaluru; Editing by Arun Koyyur

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