Biogen Idec Inc (Nasdaq: BIIB) Posts Strong Earnings Growth
By Daniel James Hayden IV
February 09, 2010 9:42 AM
February 09, 2010 9:42 AM
Biotech company Biogen Idec Inc (Nasdaq: BIIB) reported a rise in 4th quarter earnings and revenue.
Biogen Idec Inc said that it earned $306 million, or $1.06 per share, compared with $207 million, or 70 cents per share, for the same quarter a year earlier. Revenue for the 4th quarter was up 5% to $1.13 billion.
Excluding various one time charges, Biogen Idec would have posted adjusted earnings of $1.20 per share versus 93 cents per share a year earlier.
According to a poll of analysts by FactSet Research, Biogen Idec was expected to earn $1.05 per share, on revenue of $1.11 billion.
A 40% jump in sales of Biogen Idec's new multiple sclerosis drug Tysabri, was a factor in the company's strong earnings growth.
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