Biogen on Thursday reported second-quarter earnings and revenue that topped estimates and hiked its full-year guidance, as the company's cost cuts showed progress and sales of its breakthrough Alzheimer's drug, Leqembi, and other new products beat expectations. Leqembi, which Biogen shares with Eisai, became the second drug proven to slow the progression of Alzheimer's to win approval in the U.S. last summer. That's above the $31 million analysts had expected, according to estimates compiled by StreetAccount. Tecfidera, for example, booked $252.2 million in revenue in the second quarter, which is relatively flat from the year-earlier period. Analysts had expected the once-blockbuster drug to rake in $233.3 million in revenue for the quarter, according to StreetAccount.

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Persons: Biogen, StreetAccount, Leqembi, Drug Administration greenlit Skyclarys, Biogen's Organizations: Eisai, LSEG, Reata Pharmaceuticals, Drug Administration, Sage Therapeutics Locations: U.S, Europe