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Article: Biogen Idec Beats Estimates, Records $773M In Revenues.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
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Biogen Idec Inc. reported second-quarter revenues of $773 million and earnings of 70 cents per share, both beating analyst estimates.
The Cambridge, Mass.-based company also increased guidance numbers for the year, saying that it now expects non-GAPP earnings of $2.60 to $2.70 per share and revenue growth of 16 percent to 18 percent over the 2006 total. Biogen Idec's stock (NASDAQ:BIIB) bucked a down day on Wall Street Tuesday, closing up $1.49 at $56.24.
The $773 million in revenues was a 17 percent increase from the $660 million reported in the second quarter last year. Most of the total came from $462 million in sales of Avonex (interferon beta-1a) for ...