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Biogen, Inc. Profit Rises As New Multiple Sclerosis Drug Shines


1/29/2014 7:51:00 AM

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Biogen Idec Inc said on Wednesday its new, high-profile oral multiple sclerosis drug Tecfidera had sales of $398 million in the fourth quarter, easily exceeding estimates for a third successive quarter and keeping it on track to top $1 billion in its first year on the market. Some of those sales were due to U.S. inventory stocking ahead of a 10 percent Tecfidera price increase in December. Biogen said underlying patient demand for the drug represented about $348 million of the U.S. sales, still ahead of analysts' consensus expectations of about $335 million.

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