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October 23, 2007
By: Tim Wright
Biogen Idec 3Q Revenues: $789 million (+12%) 3Q Earnings: $119 million (-24%) YTD Revenues: $2.3 billion (+15%) YTD Earnings: $437 million (+301%) Comments: Avonex sales leveled off, up 2% to $455 million, while BI’s share of Rituxan revenues rose 15% to $235 million. During the quarter, the company’s named Paul Clancy to the role of chief financial officer. Two months later, BI’s board authorized management to look for a buyer for the company.
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