Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Biogen Inc    BIIB

BIOGEN INC (BIIB)

Delayed Quote. Delayed  - 05/31 10:00:02 pm
289.73 USD   +2.45%
05/31 Boeing and Medtronic skid, Allergan and Biogen gain ground
05/31 BIOGEN : Receives Positive CHMP Opinion for TYSABRI® (Natalizumab) U..
05/30 Samsung Bioepis receives final European approval for its Remicade..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/28/2013 | 01:13pm CEST
   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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on BIOGEN INC
05/31 Boeing and Medtronic skid, Allergan and Biogen gain ground
05/31 BIOGEN : Receives Positive CHMP Opinion for TYSABRI® (Natalizumab) Use in Highly..
05/30 Samsung Bioepis receives final European approval for its Remicade copy
05/30 BIOGEN : FLIXABI®, Biogen’s Infliximab Biosimilar Referencing Remicade®, A..
05/30 BIOGEN : AZN's Falcon Hits Goal, FDA Approves MS Drug, CANF Awaits Data In June
05/28DJBIOGEN : AbbVie's Once-Monthly MS Injection Approved in U.S.
05/28 BIOGEN : and AbbVie Receive FDA Approval of Once-Monthly ZINBRYTA(TM) (daclizuma..
05/27 Levi & Korsinsky, LLP Announces the Commencement of an Investigation Into Pos..
05/27 Pomerantz Law Firm Investigates Claims On Behalf of Investors of Biogen Inc. ..
05/23DJSAMSUNG ELECTRONICS : Targets U.S. Drug Market With Remicade Knockoff
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials