Biotech News - Biogen Idec Inc. (Public, NASDAQ:BIIB)

Biogen Idec Inc. (Public, NASDAQ:BIIB)

In earnings news, Biogen Idec (NASDAQ:BIIB) announced third-quarter
net profit of $156.6 million, or 45 cents per share, from $27.2
million, or eight cents per share, in the prior year. Excluding items,
earnings surged 67 percent to 60 cents per share, or well above the
consensus analysts' view of 49 cents per share. Total revenue at the
biotech firm climbed 18 percent to $703.5 million. Looking forward,
the company now expects full-year earnings per share of more than
$2.20, outpacing Wall Street's current per-share view of $2.09. The
stock has rocketed nearly six percent higher in the first few minutes
of trading.

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