02.06.08
Biogen Idec
4Q Revenues: $893 million (+26%)
4Q Earnings: $201 million (+84%)
FY Revenues: $3.2 billion (+18%)
FY Earnings: $638 million (+193%)
Comments: FY07 growth was primarily driven by Tysabri, Rituxan and Avonex sales. Through the Tysabri partnership with Elan, Biogen Idec recognized revenue of $90 million in the quarter and $229.8 million for the year. 4Q06 and FY2006 Tysabri revenues were $17.6 million and $35.8 million, respectively. The safety data for Tysabri continues to support a favorable benefit-risk profile since the drug's relaunch in July 2006. FY07 Rituxan revenues (co-promoted in the U.S. with Genentech) were up 14% to $926 million, and Avonex sales were up 9% to $1.9 billion. In the quarter, Avonex sales were up 15% to $503 million, and Rituxan sales were up 17% to $254 million. 4Q and FY R&D expenses were $229.3 million (+15%) and $925.2 million (+29%), respectively. FY results include charges of $107 million for in-process R&D related to the consolidation of Neurimmune and Escoublac, reduction of debt related to the 2003 Biogen and Idec merger, the 2006 acquisitions of Conforma and Fumapharm, the 2007 acquisition of Syntonix, as well as income of $34 million due to the consolidation of Neurimmune.
4Q Revenues: $893 million (+26%)
4Q Earnings: $201 million (+84%)
FY Revenues: $3.2 billion (+18%)
FY Earnings: $638 million (+193%)
Comments: FY07 growth was primarily driven by Tysabri, Rituxan and Avonex sales. Through the Tysabri partnership with Elan, Biogen Idec recognized revenue of $90 million in the quarter and $229.8 million for the year. 4Q06 and FY2006 Tysabri revenues were $17.6 million and $35.8 million, respectively. The safety data for Tysabri continues to support a favorable benefit-risk profile since the drug's relaunch in July 2006. FY07 Rituxan revenues (co-promoted in the U.S. with Genentech) were up 14% to $926 million, and Avonex sales were up 9% to $1.9 billion. In the quarter, Avonex sales were up 15% to $503 million, and Rituxan sales were up 17% to $254 million. 4Q and FY R&D expenses were $229.3 million (+15%) and $925.2 million (+29%), respectively. FY results include charges of $107 million for in-process R&D related to the consolidation of Neurimmune and Escoublac, reduction of debt related to the 2003 Biogen and Idec merger, the 2006 acquisitions of Conforma and Fumapharm, the 2007 acquisition of Syntonix, as well as income of $34 million due to the consolidation of Neurimmune.