UPDATE: Biogen Idec Posts Higher Q4 Profit

Biogen Idec BIIB reported a 57% rise in its fourth-quarter profit. Biogen Idec's quarterly net profit surged to $457.3 million, or $1.92 per share, versus $292.1 million, or $1.23 per share, in the year-ago period. Excluding one-time items, it earned $2.34 per share, versus analysts' estimates of $2.28 per share. Its total sales climbed 39% to $1.97 billion, versus analysts' estimates of $1.93 billion. Biogen Idec shares closed at $305.65 yesterday.