Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Biogen Profit Rises on Sales of Multiple Sclerosis Drugs

Biogen Idec Inc., maker of the multiple sclerosis drugs Avonex, Tysabri and Tecfidera, said fourth-quarter profit rose 57 percent on higher sales.

Net income increased to $457.3 million, or $1.92 a share, from $292.1 million, or $1.23, a year earlier, Cambridge, Massachusetts-based Biogen said today in a statement. Excluding one-time items, profit was $2.34 a share, beating the $2.27 average of 27 analysts’ estimates compiled by Bloomberg.

Biogen received U.S. approval last year for its first pill for multiple sclerosis, Tecfidera, and is awaiting clearance by the Food and Drug Administration of three medicines this year for hemophilia and MS. Sales of Tecfidera in the quarter were $398 million, topping analysts’ average estimate of $346.5 million.

“A generally in-line quarter once one-time factors are accounted for, perhaps generating less buzz than recent beats, though guidance suggests commercial momentum should be solid into 2014 and we expect the focus to shift near-term to the pipeline,” Brian Abrahams, an analyst with Wells Fargo, wrote in a research note today. “We continue to believe shares fairly reflect the commercial and R&D risk/reward profile.”

Biogen forecast 2014 profit excluding certain items of $11 a share to $11.20 a share and revenue growth of 22 percent to 25 percent. Analysts had estimated earnings of $11.66 a share on sales growth of 21 percent, to $8.36 billion.

Biogen fell less than 1 percent to $305.46 at the close in New York. The shares have almost doubled in the past year.

Sales in the fourth-quarter rose 39 percent to $1.97 billion, helped primarily by Tecfidera and Tysabri. Revenue from Avonex, Biogen’s top-seller, was flat at $751 million. Tysabri sales rose 45 percent to $427 million, boosted by Biogen’s acquisition last year of complete rights to the product from partner Elan Corp.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.