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)