Written by StockNews.com

Biogen Inc. (Nasdaq: BIIB) early Tuesday posted market-beating first quarter earnings results, with revenues rising in most of its key drug segments.

The Cambridge, MA-based biopharmaceuticals giant reported Q1:

Biogen also provided the following Q1 product revenue highlights for its various treatments:

The company commented via press release:

“We are encouraged by the progress we made launching SPINRAZA in the U.S., and, following the positive CHMP opinion, we are ramping up pre-launch activities in Europe. The value this therapy provides to patients is compelling, and we are working to accelerate patient access globally.

Overall, I believe we’re building positive momentum at the company, and I look forward to leading Biogen into a new and exciting era.”

Along with many biotech companies, Biogen has seen its stock languish in recent years amid widespread criticisms from lawmakers regarding exorbitant prescription drug prices. President Trump, Senator Bernie Sanders, and former Senator Hillary Clinton have all spoken out publicly at various times about the issue, and the perception on Wall Street is that major reform might be coming to limit the amount that people pay for treatments. In turn, this would undermine biotechs’ profitability.

Investors were pleased with Biogen’s report today, with its shares rising $11.04 (+3.99%) in premarket trading Tuesday. Year-to-date, BIIB has gained 5.99%, versus a 6.56% rise in the benchmark S&P 500 index during the same period.

BIIB currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #51 of 270 stocks in the Biotech category.