BioCentury
ARTICLE | Financial News

Biogen Idec beats Street

October 26, 2012 12:59 AM UTC

Biogen Idec Inc. (NASDAQ:BIIB) reported 3Q12 non-GAAP diluted EPS of $1.91, beating the Street's $1.59 estimate by $0.32 and up 19% from $1.61 in 3Q11. Third quarter revenues were $1.39 billion, slightly above the Street's estimate of $1.38 billion and up 6% from $1.31 billion in the prior year's quarter. Global sales of Tysabri natalizumab grew 3% to $404 million. The company recognized $274.8 million in Tysabri revenue, down 1% from $277.3 million in 3Q11. The autoimmune drug is partnered with Elan Corp. plc (NYSE:ELN). Second quarter revenues for multiple sclerosis (MS) drug Avonex interferon beta-1a rose 8% to $736.2 million. ...