, Columnist
Biogen Has an MS Meltdown Coming
Results look great now, but it's relying too much on an endangered franchise.
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Biogen Inc.'s third-quarter revenue, profit, and sales of a closely watched new medicine all exceeded analyst expectations. But all is not as rosy as the company's earnings press release Tuesday morning would make it seem.
The market for multiple sclerosis drugs -- the source of the vast majority of Biogen's sales -- is heading for a competitive tipping point that the company will have a difficult time weathering.