2:16 PM
 | 
Apr 24, 2018
 |  BC Extra  |  Company News

Biogen looks to ex-U.S. markets for growth

Biogen Inc. (NASDAQ:BIIB) perceives greater long-term growth opportunities than anticipated in the EU and emerging markets, the company's CEO Michel Vounatsos said on its earnings call Tuesday, while noting that the U.S. market remains its key driver of growth.

The bellwether reported an overall increase in ex-U.S. sales in the first quarter, even as it saw a decline in U.S. sales for some drugs, including spinal muscular atrophy drug Spinraza nusinersen.

The company reported 1Q18 ex-U.S. product revenues of $986 million, a 32% bump from the same period last year. Biogen’s European biosimilar business could climb to at least $500 million annually from $380 million in 2017, Vounatsos said, while ex-U.S. sales of MS drugs are generally on the rise.

“Our MS volumes continue to grow outside of the U.S., and it is still an under-diagnosed disease in many developed...

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