In the second quarter of 2020 net income attributable to noncontrolling interest included a $75 million payment to Neurimmune SubOne AG related to completing the submission of a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for the approval of aducanumab.
Our "Non-GAAP net income attributable to Biogen Inc." and "Non-GAAP earnings per share - Diluted" financial measures exclude the following items from "GAAP net income attributable to Biogen Inc." and "GAAP earnings per share - Diluted": 1. Another piece of the better-than-expected earnings puzzle is that Biogen reported $103 million in unrealized gains on its equity investments in Sangamo and Ionis Pharmaceuticals, clinical-stage collaborators in the company's Alzheimer's disease and ALS pipeline programs, respectively. This estimated loss included a pre-tax loss of $113.2 million, which reflected a $2.3 million decrease to our original estimate as of March 31, 2019, reflecting our estimated fair value of the assets and liabilities held for sale as of June 30, 2019, adjusted for our expected costs to sell our Hillerød, Denmark manufacturing operations of approximately $10.0 million and included our initial estimate of the fair value of an adverse commitment of approximately $120.0 million associated with the guarantee of future minimum batch production at the Hillerød facility.
These statements are based on our current beliefs and expectations and speak only as of the date of this news release. At Biogen, our mission is clear: we are pioneers in neuroscience. In July 2020 Biogen completed the submission of a BLA to the FDA for aducanumab as a treatment for Alzheimer's disease. Write to Matt Grossman at matt.grossman@wsj.com, EMA Accepts Biogen, Samsung Bioepis Filing for Lucentis Biosimilar. On an adjusted basis, Biogen expects a profit of $34.00 to $36.00, compared with an earlier forecast of $31.50 to $33.50. Income tax expense for the three and six months ended June 30, 2020, included $56.0 million in income tax expense related to a net valuation allowance against certain deferred tax assets, due to the decision of the U.S. District Court of the Northern District of West Virginia that the asserted claims of U.S. patent No. GAAP SG&A expense in the second quarter of 2019 included. Acquisition and divestiture related costs. Mr. Capello will remain at the Company through September 15, 2020, and will assist with the transition.
The company earned 2% less from its multiple sclerosis drug, Ocrevus, than in 2019.
Diluted earnings per share attributable to Biogen Inc. Weighted-average shares used in calculating: Cash, cash equivalents and marketable securities, NET INCOME ATTRIBUTABLE TO BIOGEN INC. AND DILUTED EARNINGS PER SHARE. See you at the top! The data were presented at the European E-Congress of Rheumatology (EULAR). Biogen revenue for the twelve months ending June 30, 2020 was $14.487B, a 2.95% …
Phase 1/2 study results demonstrated proof-of-concept and proof-of-biology of tofersen, which is currently being investigated in the ongoing Phase 3 VALOR study. *Fumarate includes TECFIDERA and VUMERITY. While Biogen didn't specify which of its collaborators licensed the IP, Roche might fit the bill based on the size of the revenue and the scale of the cooperation with its anti-CD20 therapeutics programs. Chief Financial Officer & Executive Vice President, Chief Medical Officer & EVP-Research & Development, Chief Information Officer & Senior Vice President. In May 2020, through the 2020 American Academy of Neurology (AAN) Science Highlights virtual platform, Biogen announced new data from its MS treatment portfolio.
2. Second quarter GAAP net income and diluted earnings per share (EPS) attributable to Biogen Inc. were $1,542 million and $9.59, respectively, compared to $1,494 million and $7.85, respectively, in the second quarter of 2019. We exclude certain purchase accounting related items associated with the acquisition of assets and amounts in relation to the consolidation or deconsolidation of variable interest entities. These adjustments include, but are not limited to, charges for in-process research and development and certain milestones, the amortization and impairment of intangible assets, charges or credits from the fair value remeasurement of our contingent consideration obligations and losses on assets and liabilities held for sale.
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