Member access

4-Traders Homepage  >  Shares  >  Nasdaq  >  Biogen Idec Inc    BIIB   US09062X1037

BIOGEN IDEC INC (BIIB)

91
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

Biogen Idec Inc. : Biogen 4th-Quarter Profit Falls 2.7% on Higher Costs; Revenue Up

01/28/2013 | 07:13am US/Eastern
Recommend:
0
   By Tess Stynes and Melodie Warner 
 

Biogen Idec Inc.'s (BIIB) fourth-quarter earnings fell 2.7% as the biotechnology company's efforts to bulk up its product pipeline masked its revenue growth.

The company also forecast 2013 adjusted earnings of $7.15 to $7.25 a share on about 10% revenue growth. Analysts surveyed by Thomson Reuters expect $7.27 a share on a 9% rise in revenue to $5.98 billion.

Biogen on Thursday said a new version of its blockbuster multiple-sclerosis drug Avonex was successful in a late-stage trial, strengthening the company's stable of drugs for the degenerative nerve disease. However, the overall market for such injectable drugs is expected to decline sharply amid a growing market for oral-pill-based drugs. Biogen's own BG-12 pill could be approved and launched in the U.S. as soon as March.

Biogen has been beefing up its sales force and readying its manufacturing supply chain as some drugs in its late-stage product pipeline have been drawing closer to entering the market.

Research and development costs rose 1.8% in the latest period while selling, general and administrative costs jumped 32%.

Biogen reported a profit of $292.1 million, or $1.23 a share, down from $300.2 million, or $1.22 a share, a year earlier. Excluding items such as stock-option expense, amortization and restructuring charges, per-share earnings fell to $1.40 from $1.51. Revenue increased 6.9% to $1.42 billion.

Analysts polled by Thomson Reuters most recently projected earnings of $1.46 a share on revenue of $1.39 billion.

In the latest quarter, sales of Avonex rose 7.1% to $753.2 million.

Shares closed Friday at $146.20 and were inactive premarket. The stock is up 23% over the past year.

Write to Tess Stynes at tess.stynes@dowjones.com and Melodie Warner at melodie.warner@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Recommend :
0
React to this article
Latest news on BIOGEN IDEC INC
1d ago WALL STREET WEEK AHEAD : Spring fever brings hope for U.S. earnings
1d ago Analysis - Fidelity biotech fund among worst performers in April sell-off
1d ago BIOGEN IDEC : to Report Clinical Data from Its Neurology Portfolio at AAN Annual..
2d ago BIOGEN IDEC : Names Adam M. Koppel as SVP and Chief Strategy Officer
2d ago BIOGEN IDEC : and Sobi Announce Positive Top-Line Efficacy and Safety Results fr..
2d ago BIOGEN IDEC : Pharmaceutical Innovators at 10th Annual PRO & eCOA Congress Reinf..
2d agoBIOGEN IDEC INC : quaterly earnings release
2d ago Biotech stocks rout beginning to reveal pockets of value
3d ago BIOGEN IDEC : to Present New Clinical Data from Its Robust Neurology Portfolio a..
4d ago BIOGEN IDEC : to Present New Clinical Data from Its Robust Neurology Portfolio a..
Advertisement
Chart
Duration : Period :
Biogen Idec Inc Technical Analysis Chart | BIIB | US09062X1037 | 4-Traders
Income Statement Evolution
Biogen Idec Inc : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF