$BIIB 1st qtr profit jumps 71 pct as MS drug Tecfidera shines

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Biogen 1st qtr profit jumps 71 pct as MS drug Tecfidera shines

April 24 (Reuters) – Biogen Inc reported a 71 percent rise in quarterly profit, driven by strong demand for its top-selling oral multiple sclerosis (MS) drug, Tecfidera.

The U.S. biotechnology company’s net profit soared to $822.5 million, or $3.49 per share, in the first quarter ended March 31, from $480 million, or $2.02 per share, a year earlier.

Excluding items, Biogen earned $3.82 per share.

Revenue rose about 20 percent to $2.55 billion.

(Reporting by Natalie Grover in Bengaluru; Editing by Simon Jennings)

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