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  - 05/02 09:59:59 pm
273.69 USD   -0.47%
04/29 BIOGEN : Adam koppel, executive vice president, strategy and busines..
04/27 BIOGEN : Appoints Michael Ehlers Executive Vice President, Research ..
04/22DJU.S. HOT STOCKS : Hot Stocks to Watch
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
04/29 BIOGEN : Adam koppel, executive vice president, strategy and business developmen..
04/29 BIOGEN INC. : Other Events (form 8-K)
04/27 BIOGEN : Appoints Michael Ehlers Executive Vice President, Research and Developm..
04/22DJU.S. HOT STOCKS : Hot Stocks to Watch
04/21DJHealth Care Up, Helped by Biogen Earnings -- Health Care Roundup
04/21DJBiogen Profit Climbs, Helped By Tecfidera Sales -- 2nd Update
04/21DJBiogen Profit Climbs, Helped By Tecfidera Sales -- Update
04/21DJMARKET SNAPSHOT : U.S. Stocks Turn Lower After Multiday Run-up; ECB Stays Pat On..
04/21DJBiogen Profit Climbs On Higher Sales of Multiple-Sclerosis Drug
04/21DJBIOGEN : Profit Climbs, Helped by Stronger Sales of Tecfidera
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials