Biogen prioritizing new areas as it awaits SMA landscape changes

Biogen will increasingly prioritize immunology and ophthalmology to better balance risk and reward within its pipeline, executives said during the company's quarterly call Tuesday. As the biotech reported earnings that generally beat expectations, management played down the near-term threat of competition for neuromuscular drug Spinraza as it weathers the market entry of gene therapy Zolgensma to treat spinal muscular atrophy (SMA).

On Tuesday's call, EVP and Head of R&D Michael Ehlers called ophthalmology a "core growth area," and immunology an "emerging growth area"; he said Biogen Inc. (NASDAQ:BIIB) will continue strengthening its primary franchises in multiple sclerosis and neuromuscular diseases. The company will also aim to increase its reliance on biosimilars as a growth driver...