Member access

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


SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

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

01/28/2013 | 07:13am US/Eastern
   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 and Melodie Warner at

Subscribe to WSJ:

React to this article
Latest news on BIOGEN IDEC INC
3d ago BIOGEN IDEC : to Present at the 2014 Deutsche Bank BioFEST Conference
11/14 Wall St posts gains for fourth week; ends flat for day
11/13 BIOGEN IDEC : Amorfix announces second quarter results for period ending Septemb..
11/13 BIOGEN IDEC : and Sobi: European Medicines Agency Validates Elocta
11/12 ISIS PHARMACEUTICALS : Earns $10 Million Milestone Payment From Biogen Idec for ..
11/12 BIOGEN IDEC : and Sobi Announce European Medicines Agency Validates ELOCTA&trade..
11/12 BIOGEN IDEC : Findings from Biogen Idec, Inc. Yields New Findings on Molecular G..
11/11 BIOGEN IDEC : Teach For America Announces Multi-Year Collaboration with Biogen I..
11/05 BIOGEN IDEC : Findings on DNA Research Detailed by Investigators at Biogen Idec,..
11/05 BIOGEN IDEC : and Sobi Reports Validation of Elocta (rFVIIIFc) Marketing Authori..
Duration : Period :
Biogen Idec Inc Technical Analysis Chart | BIIB | US09062X1037 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes