Biogen’s quarterly profit jumps but stock falls

Biogen, whose shares fell nearly 16.5% this year, saw it further dip 2.4% to $259.30 in pre-market trade, despite the strong first-quarter earnings.
Earnings, excluding items, jumped to $6.05 per share this quarter from last year’s $5.20 per share. On a diluted basis, Biogen reported earnings of $5.54 per share, marking a modest improvement from $3.46 per share during the same quarter last year.
Weeks back, Biogen along with its South Korean partner Samsung Bioepis put an end to the long-running fight with AbbVie, over the biosimilar version of the latter’s key drug Humira. https://news.alphastreet.com/biogens-quarterly-profit-jumps-but-stock-falls/