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Biogen (BIIB) Stock Rises, Q3 Results Beat Expectations

NEW YORK (TheStreet) -- Shares of Biogen (BIIB) were advancing in pre-market trading on Wednesday after reporting 2016 third-quarter earnings and revenue above analysts' projections.

Before the market open, the Cambridge, MA-based biopharmaceutical company reported adjusted earnings of $5.19 per share, beating analysts' estimates of $4.97 per share.

Revenue gained 6% year-over-year to $2.96 billion, above analysts' estimates of $2.90 billion for the period.

Growth was driven by a 10%...