Financial Report: Biogen Idec 4Q

Biogen Idec

4Q Revenues: $1.1 billion (+20%)

4Q Earnings: $207.0 million (+3%)

FY Revenues: $4.1 billion (+29%)

FY Earnings: $783.0 million (+23%)

Comments: Growth was driven by Tysabri sales, up 74% to $156 million in the quarter and up 156% to $589 million for the year. In the quarter, Biogen recognized revenue of $156 million related to Tysabri, consisting of $53 million related to Elan sales in the U.S. and $103 million related sales in rest of world markets. Avonex sales were up 13% in the quarter to $565.8 million, and up 18% for the year to $2.2 billion. Rituxan revenues from the joint business arrangement with Genentech were $303 million in the quarter and $1.1 billion for the year. Royalties were $29 million in quarter (-12%) and $116 million for the year (+14%). R&D expenses were $293 million in the quarter (+28%) and $1.1 billion for the year (+16%).