Biogen's 1st-qtr profit jumps 54% to $244M
US biotechnology firm Biogen Idec's first quarter 2009 earnings jumped 54% year-on-year to $243.9 million, or $0.84 per share, as revenues advanced 10% to $1.04 billion, thanks to a 44% rise in sales of multiple sclerosis drug Tysabri (natalizumab) to $165.0 million.
Despite the figures beating consensus forecasts, the firm's stock fell 2.7% to $50.09 on the day the results were announced, April 16.
Global in-market net sales of the drug, which is the firm's key growth driver, totaled $227.0 million, of which $116.0 million was in the USA and $111.0 million came from the rest of world markets.
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