Ebb & Flow

Biogen Idec (BIIB) went relatively unscathed after missing the consensus EPS estimates last week in its fourth quarter and full year results, as investors were less interested in the company's miss than on its comments related to multiple sclerosis drug Tysabri.

The stock was off only $0.25 to $66.70, less than the 3% decline seen in the BioCentury 100 Index. BIIB's fourth quarter adjusted EPS came in at $0.34, $0.02 below the Street's estimate. The shortfall reflects increased expenses, as the $586 million in fourth quarter revenues were in line with the consensus. ...