Fresh off eliminating more than 800 jobs company-wide, drugmaker Biogen reported healthy earnings Wednesday for the fourth quarter and for all of 2015.
Investors rewarded the company by pushing up its stock $13.39, or 5.2 percent, to close Wednesday at $273.26.
One of the Triangle’s largest employers, Biogen cut an estimated 130 jobs locally last year. The layoffs were part of a restructuring that eliminated 11 percent of its global workforce.
Biogen executives said at the time the moves were part of an effort to focus on its most promising products, including Tecfidera, a treatment for relapsing Multiple Sclerosis that’s manufactured in Durham.
Cambridge, Mass.-based Biogen employs more than 1,200 in the Triangle, where it operates facilities in Morrisville and Durham, and more than 7,000 worldwide. Last year Biogen bought its 124-acre campus in Durham where it had been leasing space from the Japanese drugmaker Eisai since 2013.
The company said fourth quarter sales were $2.84 billion, up 7.5 percent. The company’s sales were $10.76 billion for 2015, up 10.9 percent. Biogen is projecting total sales to go up again this year, between $11.1 billion and $11.3 billion. Net income per share was also up 0.5 percent for the fourth quarter and 23.8 percent for the year.
The company said Tecfidera sales grew more than 24 percent last year, to $3.6 billion. Tecfidera is Biogen’s biggerst seller, accounting for a third of total sales.
Sales of other major medications remained stable.