FRONT PAGE AMPYRA AUBAGIO AVONEX BETASERON COPAXONE EXTAVIA
Stan's Angels MS News Channel on YouTube GILENYA NOVANTRONE REBIF RITUXAN TECFIDERA TYSABRI
 Daily News for Neuros, Nurses & Savvy MSers: 208,152 Viewers, 8,368 Stories & Studies
Click Here For My Videos, Advice, Tips, Studies and Trials.
Timothy L. Vollmer, MD
Department of Neurology
University of Colorado Health Sciences Center Professor

Co-Director of the RMMSC at Anschutz Medical Center

Medical Director-Rocky Mountain MS Center
Click here to read my columns
Brian R. Apatoff, MD, PhD
Multiple Sclerosis Institute
Center for Neurological Disorders

Associate Professor Neurology and Neuroscience,

Weill Medical College of Cornell University

Clinical Attending in Neurology,
New York-Presbyterian Hospital
CLICK ON THE RED BUTTON BELOW
You'll get FREE Breaking News Alerts on new MS treatments as they are approved
MS NEWS ARCHIVES: by week

HERE'S A FEW OF OUR 6000+ Facebook & MySpace FRIENDS
Timothy L. Vollmer M.D.
Department of Neurology
University of Colorado Health Sciences Center
Co-Director of the RMMSC at Anschutz Medical Center
and
Medical Director-Rocky Mountain MS Center


Click to view 1280 MS Walk photos!

"MS Can Not
Rob You of Joy"
"I'm an M.D....my Mom has MS and we have a message for everyone."
- Jennifer Hartmark-Hill MD
Beverly Dean

"I've had MS for 2 years...this is the most important advice you'll ever hear."
"This is how I give myself a painless injection."
Heather Johnson

"A helpful tip for newly diagnosed MS patients."
"Important advice on choosing MS medication "
Joyce Moore


This page is powered by Blogger. Isn't yours?

Sunday

 

Sluggish sales slow Biogen earnings






















Cambridge-based Biogen took a hit in its quarterly earnings report released yesterday after a dip in sales of its key multiple sclerosis medication, along with delayed data on its new Alzheimer’s drug, but an analyst predicted the biotech giant likely will rebound by this summer.

“The fact is, they missed,” said Michael Yee, a San Francisco-based analyst at RBC Capital Markets. “One of its key drugs missed both in the United States and outside the United States, and there are concerns about overall quality and rigor of the data for its Alzheimer’s drug.”

But, he said, “I think it’ll be looking OK by July.”

The company reported that sales of its multiple sclerosis drug Tecfidera slowed, which Yee said can be partially attributed to a rare brain infection called progressive multifocal leukoencephalopathy that took the life of a patient taking the medication late last year.

“That scared people a little,” Yee said. “It certainly slowed people down for a couple of months.”

He said the decrease in sales may not be entirely negative for the company, however, given that one of its new multiple sclerosis medications, Plegridy, has stolen some of the spotlight.

Plegridy is a modified version of an existing medication — Avonex — that lasts longer and requires less frequent dosing.

“There was some product mix shift,” Yee said. “People who would have switched from Avonex to Tecfidera switched to Plegridy instead.”

Promising early results from the trial of its new Alzheimer’s drug, Aducanumab, caused Biogen’s stock to rise last month, but the slow release of data on it sent the stock plummeting 8 percent yesterday.

Yee said the company will likely see improvement once it releases data for its 6 mg dose this July.

The company’s profit increased 71 percent to $822.5 million and earnings were $3.82 per share, falling short of Wall Street’s predicted $3.92 per share.

“We made good progress on our pipeline, but our commercial results were not as strong as we’d hoped,” said Biogen Chief Information Officer George A. Scangos on a conference call yesterday. “Although we achieved 20 percent revenue growth and 55 percent non-GAAP EPS growth compared to the same quarter last year, we’d expected to do even better.”

Scangos said the company’s efforts in the development of biosimilars — lower-cost versions of expensive, complex medications — continue to thrive.

He added that the company will “focus on the trajectory of Tecfidera and of our entire MS franchise” this upcoming year.

Story Source: The above story is based on materials provided by BOSTONHERALD
Note: Materials may be edited for content and length

Labels:



Go to Newer News Go to Older News