Biogen’s rare-disease drug Spinraza bounced back with strong sales in the second quarter, helping the biotech beat earnings expectations and raise financial guidance for the remainder of the year.
Spinraza, which treats spinal muscular atrophy, delivered $423 million in sales during the quarter ending in June, an increase of 16 percent from the first quarter. Analysts had expected second-quarter sales of $390 million.
In premarket trading, Biogen shares were up 6 percent to $379.50 — a new 52-week high.
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