10:01 am Biogen Idec Trades Lower on Earnings Call Tecfidera Comments; Q3 Results Beat on Bottom-Line
Biogen Idec (BIIB 303.47 -23.30) is trading lower by 7.1% in early trading, despite a bottom-line beat, as disappointing comments from the earnings call weigh on the stock.
Q3 (Sep) earnings beat estimates while revenues were roughly in-line. Earnings per share came in at $3.80, an increase of 61.7% year-over-year, on revenues which rose 37.4% year-over-year to $2.51 billion.
The company's major products are Avonex, Tecfidera, Tysabri, Alprolix, and Plegridy, and it has seen …More