Biogen Results Top Forecasts on Strong Sales, Lower Costs
Photographer: Scott Eisen/Bloomberg
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Biogen Inc. posted stronger-than-expected fourth-quarter results powered by robust sales for key drugs and cost cutting, as the biotechnology company prepares to seek approval for a potentially landmark treatment for Alzheimer’s disease.
Shares of Cambridge, Massachusetts-based Biogen were up 2.1% in premarket trading Thursday in New York. Over the 12 months through Wednesday’s close, the stock had declined 14%.