Biogen Idec beats Street

Biogen Idec Inc. (NASDAQ:BIIB) posted 3Q09 non-GAAP diluted EPS of $1.12, beating by $0.08 the Street's estimate of $1.04 and up 14% from $0.98 in 3Q08. Third quarter revenues were $1.12 billion, a 3% increase from $1.09 billion in the prior year's quarter. Global Tysabri natalizumab sales to treat multiple sclerosis and Crohn's disease were $282 million. Biogen Idec recognized $207 million in Tysabri revenue, up 21% from $172 million in 3Q08. Tysabri is partnered with Elan Corp. plc (NYSE:ELN).

Third quarter sales of Avonex interferon beta-1a, also for MS, were $580 million, up 1% from $573 million in 3Q08. U.S. sales of Rituxan rituximab for rheumatoid arthritis and non-Hodgkin's lymphoma (NHL), as recorded by Roche (SIX:ROG; OTCQX:RHHBY) unit Genentech Inc., rose 2% to $670 million. Biogen Idec reported $284 million in Rituxan 3Q09 revenues. ...