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Biogen Idec Inc. Message Board

  • bluecheese4u bluecheese4u Jul 24, 2012 9:13 AM Flag

    CORRECTING & REPLACING Biogen Idec Increases Revenue 18% to $1.4 Billion in the Second Quarter

    CORRECTING & REPLACING Biogen Idec Increases Revenue 18% to $1.4 Billion in the Second Quarter
    -- Non-GAAP Diluted EPS Rises 34%; GAAP Diluted EPS Up 36% --

    -- Preparing for BG-12 Launch and Four Phase 3 Data Readouts in Next Nine Months --

    WESTON, Mass.--(BUSINESS WIRE)--Jul. 24, 2012-- Second graph after the first series of bullets should read: The company also completed its previously ... (sted During the second quarter, the company also completed its previously ...).

    The corrected release reads:

    BIOGEN IDEC INCREASES REVENUE 18% TO $1.4 BILLION IN THE SECOND QUARTER

    -- Non-GAAP Diluted EPS Rises 34%; GAAP Diluted EPS Up 36% --

    -- Preparing for BG-12 Launch and Four Phase 3 Data Readouts in Next Nine Months --

    Biogen Idec Inc. (NASDAQ: BIIB), a global biotechnology leader in the discovery, development, manufacturing and commercialization of innovative therapies, today announced its second quarter 2012 results.

    Second Quarter 2012 Highlights:

    Second quarter revenues increased 18% to $1.4 billion, compared to the second quarter of 2011. TYSABRI® (natalizumab) revenues were $280 million, in-line with the second quarter of 2011. AVONEX® (interferon beta-1a) revenues increased 16% year-over-year to $762 million. RITUXAN® (rituximab) revenues from our unconsolidated joint business arrangement were $285 million for the quarter, an increase of 31% year-over-year. As previously disclosed, during the second quarter of 2011 our share of RITUXAN revenues from unconsolidated joint business was reduced by approximately $50 million to reflect our share of damages and interest that might be awarded in relation to an intermediate decision in Genentech, Inc.’s ongoing arbitration with Hoechst GmbH.
    Global in-market sales of TYSABRI in the second quarter of 2012 were $395 million, an increase of 2% over the second quarter of 2011. The total was comprised of $211 million in U.S. sales and $184 million in sales outside the U.S.
    Second quarter 2012 GAAP diluted EPS were $1.61, an increase of 36% over the second quarter of 2011. GAAP net income attributable to Biogen Idec for the quarter was $387 million, an increase of 34% from the second quarter of 2011.
    Non-GAAP diluted EPS for the second quarter of 2012 were $1.82, an increase of 34% over the second quarter of 2011. Non-GAAP net income attributable to Biogen Idec for the second quarter of 2012 was $439 million, an increase of approximately 32% from the second quarter of 2011. A reconciliation of our GAAP to non-GAAP results is included on Table 3 within this press release.
    As of June 30, 2012, Biogen Idec had cash, cash equivalents and marketable securities of approximately $2.9 billion.

    The company also completed its previously announced $500 million share repurchase for the purpose of retiring shares and returning capital to shareholders.

    “At the midpoint of a pivotal year, we continue to succeed in the marketplace and track against our goals,” said George A. Scangos, Ph.D., the company’s chief executive officer. “AVONEX performance was particularly strong in the second quarter. There has been strong uptake of the AVONEX PEN® and AVOSTARTGRIPTM titration dosing kit in both the US and EU. We have a busy nine months ahead of us preparing for the BG-12 launch and four pivotal trial data readouts -- for our long-lasting blood factors VIII and IX for hemophilia, dexpramipexole for ALS and PEGylated interferon beta-1a for multiple sclerosis. We continued to strengthen our early-stage pipeline and stepped up the pace of revitalizing our discovery efforts. We had a very productive quarter, delivering both revenue and earnings growth, while continuing to invest in the company’s future.”

    http://www.biogenidec.com/PRESS_RELEASE_DETAILS.aspx?ID=5981&ReqId=1717620

 
BIIB
343.04+1.80(+0.53%)Aug 29 4:00 PMEDT

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