Biogen’s (BIIB) Spinraza, a treatment for the rare and deadly spinal muscular atrophy, got off to a record-setting start, but U.S. growth is already waning, three quarters into the commercial launch.
Spinraza U.S. sales totaled $198 million in the third quarter, almost flat compared to the second quarter, setting off alarms among investors. Biogen’s shares are down 7 percent on Tuesday morning following the biotech firm’s third-quarter earnings report. Ionis Pharmaceuticals (IONS), which received royalties on Spinraza sales, fell 13.5 percent.
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Typical AF comment. Q2 had a $30M pipeline build. Back that out and you get 20% sequential sales growth in US. Sloppy and lazy.
But it’s up 34% overall sequentially and overall results were strong in the report. http://alph.st/b6291dfb