Biogen Shares Climb on Earnings Beat, CEO Departure
Biogen shares could be on a turnaround trajectory after a year of disappointments.
Biogen (BIIB) - Get Report shares are higher Thursday after the company reported that its six-year veteran CEO George Scangos will be stepping down in the coming months. Meanwhile, Biogen also topped earnings expectations for the second quarter when the company reported an earnings beat of $5.21 a share for the quarter, above forecasts. Biogen has long been a laggard in the Big Pharma scene, with shares down about 36 percent over the past 12 months.
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