Old drugs decline as new drugs take over: Acquisition-driven transformation delivers initial results, Biogen (BIIB.US) raises full-year revenue guidance

Zhihu Tong Finance APP reports that Biogen (BIIB.US) reported quarterly revenue and adjusted earnings that both exceeded analysts' expectations. This was driven by sales growth of newly acquired kidney and ophthalmology medications, which successfully offset the impact of declining revenue from multiple sclerosis (MS) drugs. For the fiscal year, the company's second-quarter revenue increased by 3.8% year-on-year to $2.7 billion, surpassing expectations by $240 million; earnings per share were $3.60, exceeding expectations by $1.57.