Biogen Idec's 4th-qtr profit up 95% to $109M
USA-based biotechnology firm Biogen Idec says that, for the fourth quarter 2006, its income was $108.6 million, or $0.32 per share, up 95.3% on the $55.6 million and $0.16 per share it reported for the final three months of 2005.
The firm added that, excluding charges, such as the $60.0 million relating to its acquisition of Conforma and Fumapharm (Marketletters May 15 and June 12, 2006), and a $28.0 million settlement of a license agreement with Fumedica, its earnings would have been $184.0 million, or $0.53 per share. A survey of analysts conducted by Thompson Financial predicted consensus income of $0.55 per share for the period.
Revenues driven by Rituxan and Avonex
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