Biogen Idec posts 28% rise in Tysabri sales for 2nd-qtr 2011

27 July 2011

USA-based biotechnology company Biogen Idec (Nasdaq: BIIB) announced its second quarter 2011 results, showing a slight, 2%, downturn in profits and flat sales at $1.2 billion compared with the like 2010 period.

Biogen confirmed its previous guidance of full-year 2011 adjusted earnings "above" $5.70 a share on low to middle single digit revenue growth. Current 2011 consensus forecasts expect Biogen to earn $5.86 a share (adjusted) on total revenue of $4.83 billion, or 2% year-on-year growth.

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