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Biogen Witnessed High Revenue Growth in 2Q17

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Part 2
Biogen Witnessed High Revenue Growth in 2Q17 PART 2 OF 5

Biogen’s Interferons Witnessed Steady Growth in 2Q17

Interferons revenue trends

In 2Q17, Biogen’s (BIIB) net revenue from the sale of interferons amounted to ~$691 million, a 5% fall year-over-year (or YoY) and a ~7% rise quarter-over-quarter.

In 2Q17, Avonex generated revenue of ~$557 million, which reflected a 4% rise quarter-over-quarter and an ~8% fall YoY. In 2Q17, Avonex generated revenue of ~$420 million from the US market, a rise of ~5% quarter-over-quarter.

Biogen’s Interferons Witnessed Steady Growth in 2Q17

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In 2Q17, Biogen’s interferon Plegridy generated revenue of ~$133 million, a rise of 19% quarter-over-quarter and ~8% YoY. In 2Q17, Plegridy’s US revenue was ~$81 million, a rise of ~26% quarter-over-quarter and 6% YoY.

The above graph represents the revenue trajectory of Biogen’s interferons from 2Q16 to 2Q17. To know more about Biogen’s interferons, read Injectable Therapies Still a Major Part of Biogen’s MS Franchise.

Revenue trends outside the United States

In 2Q17, outside the United States, Plegridy generated revenue of ~$52 million, a rise of ~10% quarter-over-quarter and 13% YoY.

In 2Q17, outside the United States, Avonex generated revenue of ~$137 million, a fall of ~16% quarter-over-quarter. In 1Q17, outside the United States, Avonex generated revenue of ~$136 million.

Biogen estimated that foreign exchange net of hedge impacts had an unfavorable impact on its revenue in 2Q17, leading to losses of ~$6 million compared to 2Q16.

Avonex and Plegridy face tough competition from Merck & Co.’s (MRK) Rebif, Bayer’s (BAYZF) Betaseron, and Novartis’s (NVS) Extavia. The revenue growth of Biogen’s interferons could boost the share price of the ProShares UltraPro Nasdaq Biotechnology ETF (UBIO). Biogen makes up ~6.3% of UBIO’s total portfolio holdings.

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