Biogen Idec 1Q

1Q Revenues: $1.3 billion (+7%)

1Q Earnings: $302.4 million (-2%)

Comments: Tysabri revenues rose 14% to $286 million, while Avonex revenues were up 3% to $662 million, driven by price increases. Unit demand for Avonex dropped 4%. Rituxan revenues were up 11% to $285 million. The company has announced a $500 million stock buyback. R&D expenditures rose 21% to $356 million in the quarter.