Biogen beats third-quarter results on strength in rare disease drugs

Oct 28 (Reuters) Biogen beat Wall Street estimates for third-quarter results on Wednesday, as strong demand for its rare disease and Alzheimer s drugs helped offset ​declining sales of its multiple sclerosis treatments. The drugmaker ‌is banking on Syfovre and Empaveli, treatments acquired from its recent $5.6 billion buyout of Apellis Pharmaceuticals, along with its rare-disease drugs to drive growth, as pricing pressure weighs on its aging multiple sclerosis portfolio. Sales ‌of ​eye disease drug Syfovre rose 27% ⁠to $191 million in the ⁠third quarter, while kidney disease treatment Empaveli brought in $52 million, up 92% from a year earlier. Its rare disease portfolio – which includes genetic disorder drug Skyclarys and spinal ​muscular atrophy drug Spinraza – brought in sales of $676 million in the quarter, up 27% from a year earlier. CEO ⁠Christopher Viehbacher expects upcoming late-stage trial ⁠results over the next year to bolster ​long-term growth, with analysts highlighting