Drugmaker Biogen Inc beat analysts' estimates for first-quarter profit on W...
FILE PHOTO: A sign marks a Biogen facility in Cambridge, Massachusetts, U.S. January 26, 2017. REUTERS/Brian Snyder
Biogen’s multiple sclerosis drug Tecfidera, which brought in $999 million in the quarter, missed estimates, and faces several challenges to its intellectual property, which is key to shielding the blockbuster drug from generic competition. Biogen said it expects a nearly $125 million reduction in operating expenses during the year related to the discontinuation of aducanumab, with net savings of about $80 million.
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