Biogen Tempers Outlook After Generic Rival Erodes MS Sales
This article is for subscribers only.
Biogen Inc. lowered its financial outlook for the year and said it would buy back $5 billion in stock, as its biggest-selling medicine faced new generic competition.
Shares of Biogen declined 1% to $264.54 at 12:07 a.m. Wednesday in New York. Through the close of trading Tuesday, the stock had declined 10% this year.