Oct 30 (Reuters) - Biogen raised annual profit

forecast and beat third-quarter profit expectations on

Wednesday, as its cost-cutting measures helped make up for

falling sales of its multiple sclerosis medicines.

The drugmaker has cut jobs and pulled the plug on less

promising drug candidates in a series of cost-saving measures,

focusing on higher-growth products as CEO Christopher Viehbacher

takes the lead to bring the cash-strapped biotech back to

growth.

The company has pinned its hopes on newly launched

treatments, including Leqembi, which has seen a slow pick-up in

sales in the United States after concerns over cost, efficacy

and side effects. It sells for $26,500 annually in the U.S.

U.S. sales of Leqembi, which the company sells with Eisai ( ESALF )

, were $39 million for the third quarter ended Sept. 30.

The Wall Street consensus was at $45 million, according to

brokerage Jefferies.

Biogen now expects annual adjusted per-share profit of

between $16.10 and $16.60 compared with previous forecast in the

range of $15.75 to $16.25.

Analysts on average expected profit to be $16.19 per share

for 2024, according to data compiled by LSEG.

The company reported an adjusted profit of $4.08 per share

for the third quarter, topping expectations of $3.79 per share.