— Total product revenues rose by 4% driven by growth in multiple sclerosis drugs, spinal muscular atrophy drug Spinraza, biosimilars Benepali, Imraldi, and Flixabi.
— Research and development expense rose by 13% due to the inclusion of charges related to Samsung Bioepis transaction, related to the option exercise with Ionis Pharmaceuticals, and related to collaboration agreements with CAMP24 Therapeutics and Catalyst Biosciences.
— Looking ahead into the full year 2020, the company expects revenue in the range of $14-14.3 billion and adjusted earnings in the range of $31.50-33.50 per share. Analysts expect EPS of $33.03 on revenue of $14.06 billion.
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— The earnings are anticipated to be in the range of $29.50-31.50 per share for the full year.