10.23.07
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.
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.