BioCentury
ARTICLE | Financial News

Biogen Idec reports 2012 results, gives 2013 guidance

January 29, 2013 1:28 AM UTC

Biogen Idec Inc. (NASDAQ:BIIB) reported 4Q12 non-GAAP diluted EPS of $1.40, missing the Street's $1.46 estimate by $0.06 and down 7% from $1.51 in 4Q11. The company's 4Q12 results include corrected accounting for taxes on capitalized interest for a Denmark facility, which lowered non-GAAP EPS by $0.12. Fourth quarter revenues were $1.42 billion, slightly above the Street's estimate of $1.39 billion and up 7% from $1.33 billion in the prior year's quarter. Global sales of autoimmune drug Tysabri natalizumab were $433 million, up 14% from 4Q11. Biogen Idec recognized $295.2 million in Tysabri revenue, up 10% from $269.4 million in 4Q11. The autoimmune drug is partnered with Elan Corp. plc (NYSE:ELN). Fourth quarter revenues for multiple sclerosis (MS) drug Avonex interferon beta-1a rose 7% to $753 million. Full year revenues increased 9% to $5.5 billion, while 2012 non-GAAP EPS increased 11% to $6.53. ...