Biogen posts fourth-quarter loss on income tax charge
REUTERS - U.S. drugmaker Biogen Inc reported a quarterly loss compared with a year-ago profit on Thursday due to a hefty income tax charge for recent changes to the U.S. tax code.
The company paid $1.57 billion in income tax in the quarter.
Net loss attributable to Biogen was $297.4 million, or $1.40 per share, in the fourth quarter ended Dec. 31. The company had a profit of $649.2 million, or $2.99 per share, a year earlier.
Total revenue rose to $3.31 billion from $2.87 billion.
(Reporting by Tamara Mathias in Bengaluru; Editing by Arun Koyyur)
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