Stifel Updates Ests on Biogen (BIIB) Following Q1 Report; Affirms at 'Hold'
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Biogen Reports First Quarter 2016 Revenues of $2.7 Billion
April 21, 2016 7:15 AM EDTFirst quarter 2016 Non-GAAP diluted EPS rise 25%; GAAP diluted EPS rise 27%
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Biogen Inc. (NASDAQ: BIIB) today reported first quarter 2016 financial results, including:
Total revenues of $2.7 billion, a 7% increase versus the same period in the prior year. Growth was driven by a 15% increase in worldwide TECFIDERA® revenues as well as increased revenues from ELOCTATE® and ALPROLIX®. Revenues were partially offset by a decrease in worldwide interferon sales. Foreign exchange, including a $26 million reduction in hedging gains, negatively impacted total revenues by approximately $50... More