Biogen Idec (BIIB) Tops Q3 EPS by 31c; Boosts FY14 EPS Outlook

Biogen Idec (NASDAQ: BIIB) reported Q3 EPS of $3.80, $0.31 better than the analyst estimate of $3.49. Revenue for the quarter came in at $2.5 billion versus the consensus estimate of $2.48 billion.

“The third quarter was a period of significant achievement as we continued to make progress against our corporate objectives,” said Chief Executive Officer George A. Scangos, Ph.D. “We introduced innovative therapies for MS and hemophilia and began to launch them in markets worldwide. We also launched TECFIDERA in several European countries, furthering its position as a leading oral MS therapy.

“As we continued to extend our commercial business we remained focused on building our future, bringing to our team leading talent in technology, ALS research, neurology and gene therapy. I am also very proud of being recognized for our focus on corporate citizenship as again we were named the leading biotechnology company on the Dow Jones Sustainability Index,” Dr. Scangos added.

Biogen Idec sees FY2014 EPS of $13.45-$13.55, versus the consensus of $13.1.

For earnings history and earnings-related data on Biogen Idec (BIIB) click here.

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