Biogen, Inc. lowered revenue guidance for the year by $600m and foreshadowed the possibility of cost cuts in 2021 as its blockbuster multiple sclerosis drug Tecfidera (dimethyl fumarate) faces multi-source generic competition for the first time. Management updated investors on the revised guidance during Biogen's third quarter sales and earnings call on 21 October.
Mylan N.V. launched the first generic version of Tecfidera in August, putting Biogen's anchor franchise at risk. ([A#GB150189])...
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