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US court dismisses suit against Biogen related to blockbuster drug Tecfidera

Biogen Inc. is no longer facing a lawsuit that alleged it misled shareholders on the financial performance and safety of its blockbuster drug Tecfidera, Reuters reported.

U.S. District Judge Dennis Saylor tossed the lawsuit out on grounds that plaintiffs failed to establish the company's executives made false or misleading statements intentionally or recklessly.

The Cambridge, Mass.-based biotechnology company's Tecfidera — a treatment for multiple sclerosis — generated $4.2 billion in sales in 2017.