Biogen reports slowing sales of Tecfidera, shares plunge

April 24, 2015 2:49 PM

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Biogen reports slowing sales of Tecfidera, shares plunge

(Reuters) - Sales of Biogen Inc's key oral multiple sclerosis (MS) drug Tecfidera fell on a sequential basis in the first quarter for the first time since its launch in 2013, sending the company's stock down as much as 8 percent on Friday.

The U.S. biotechnology company posted lower-than-expected quarterly profit and revenue, saying Tecfidera's "challenging" quarter was driven by an overall slowdown in the MS market, which has been weighed down by discounting, a single case of a serious brain infection, and the effect of a stronger do...

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