Biogen Idec 1st-qtr 2014 revenue leaps 51%, driven by Tecfidera and MS franchise

23 April 2014

US biotech firm Biogen Idec (Nasdaq: BIIB) first-quarter 2014 results today, including revenue of $2.1 billion, a 51% increase compared to the first quarter of 2013, just beating analysts’ consensus estimates of $2 billion. The firm’s shares dipped 1.9% to $300.33 by mid-morning trading.

The revenue growth year-over-year was driven by strong performance of the new, oral, multiple sclerosis drug Tecfidera (dimethyl fumarate) and from recording 100% of Tysabri (natalizumab) revenues following Biogen’s acquisition of complete rights for the asset in the second quarter of 2013, the company noted.

First quarter 2014 non-generally accepted accounting principles (GAAP) diluted earnings per share (EPS) were $2.47, an increase of 25%, missing the $2.55 average of 23 analysts’ estimates compiled by Bloomberg. Non-GAAP net income attributable to Biogen Idec for the year was $587 million, up 25% over the first quarter of 2013.

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