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Biogen reports Tecfidera growth, ends S1P program

October 26, 2016 7:00 AM UTC

In its 3Q16 earnings report, Biogen Inc. (NASDAQ:BIIB) said sales of multiple sclerosis drug Tecfidera dimethyl fumarate grew 10% compared to 3Q15. The company also said it discontinued development of autoimmune candidate amiselimod ( MT-1303), a sphingosine 1-phosphate ( S1P) receptor functional agonist whose rights Biogen had obtained from Mitsubishi Tanabe Pharma Corp. (Tokyo:4508).

Tecfidera sales were $1.03 billion in 3Q16, compared with $937 million in 3Q15, and up 5% sequentially from 2Q16. Biogen estimated that the latest sales figure included a $40-$50 million benefit compared with the prior quarter due to U.S. inventory buildup. In a Wednesday regulatory filing, Biogen attributed the sales growth primarily to price increases. A slowdown in Tecfidera's sales growth was among several factors that led to a long slump in Biogen's stock price during 2015 and 1H16 (see BioCentury, July 25). ...