Biogen Inc.’s stock BIIB rose 1.1% premarket Tuesday, after the company swept past earnings estimates for the second quarter and said it will shift resources to areas that offer the most value. “In the second quarter, Biogen continued to advance groundbreaking science with the FDA approval of two first-in-class therapies for Alzheimer’s disease and ALS, while also delivering on our base business expectations,” said CEO Christopher A. Viehbacher. “Biogen’s business is in transition.
“In the second quarter, Biogen continued to advance groundbreaking science with the FDA approval of two first-in-class therapies for Alzheimer’s disease and ALS, while also delivering on our base business expectations,” said CEO Christopher A. Viehbacher. “Biogen’s business is in transition. “Accordingly, we have taken a bottom-up view to shift our resources to the areas of greatest value creation.