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Biogen profit slumps 75% on multiple sclerosis drug competition

Feb 3 (Reuters) - Drugmaker Biogen Inc reported a 75.1% fall in fourth-quarter profit on Wednesday, hit by increased competition for its multiple sclerosis drug Tecfidera and higher costs.

Net income attributable to the company fell to $357.9 million, or $2.32 per share, in the three months ended Dec. 31, from $1.44 billion, or $8.08 per share, a year earlier.

Reporting by Dania Nadeem and Manas Mishra in Bengaluru; Editing by Sriraj Kalluvila

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