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Revenues up, but R&D costs put a crimp in earnings
May 1, 2012
By: Gil Roth
President, Pharma & Biopharma Outsourcing Association
Biogen Idec 1Q 1Q Revenues: $1.3 billion (+7%) 1Q Earnings: $302.4 million (-2%) Comments: Tysabri revenues rose 14% to $286 million, while Avonex revenues were up 3% to $662 million, driven by price increases. Unit demand for Avonex dropped 4%. Rituxan revenues were up 11% to $285 million. The company has announced a $500 million stock buyback. R&D expenditures rose 21% to $356 million in the quarter....
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