Biogen Idec shares leap, as 1st-qtr 2011 earnings rocket, boosted by Tysabri; and by MS drug results

26 April 2011

Shares of US biotech firm Biogen Idec (Nasdaq: BIIB) soared 20% to $104.11 in pre-market trading last Thursday (ahead of the Easter holidays), after the company announced its first quarter 2011 results showing that GAAP diluted earnings per share were $1.20, an increase of 50% over the first quarter of 2010.

GAAP net income attributable to Biogen Idec for the quarter was $294 million, an increase of 35% over the like period of 2010. Non-GAAP diluted EPS for the first quarter of 2011 were $1.43, up 32%. Non-GAAP net income attributable to Biogen Idec for the first quarter of 2011 was $349 million, a rise of 18%.

Strong product performances

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK