Biogen (BIIB) Misses Q1 EPS by 6c; Revs Light

Biogen (NASDAQ: BIIB) reported Q1 EPS of $3.82, versus the analyst estimate of $3.88. Revenue for the quarter came in at $2.56 billion versus the consensus estimate of $2.66 billion.

First Quarter 2015 Performance Highlights

• Total multiple sclerosis product sales were $2.1 billion compared to $1.7 billion in the same quarter last year.
• TECFIDERA revenues were $825 million compared to $506 million in the same quarter last year. These results consisted of $648 million in U.S. sales and $177 million in sales outside the U.S. compared to $460 million and $46 million, respectively, in the first quarter of 2014.
  • TECFIDERA revenues in the first quarter of 2015 decreased 10% versus the fourth quarter of 2014. This decline was partially impacted by one fewer shipping week in the U.S. versus the prior quarter, increased discounts and allowances specific to the first quarter of 2015 and updated pricing assumptions in Germany.
• Interferon revenues, including AVONEX® and PLEGRIDY, were $755 million compared to $761 million in the same quarter last year. These results consisted of $518 million in U.S. sales and $236 million in sales outside the U.S. compared to $476 million and $285 million, respectively, in the first quarter of 2014.
• TYSABRI® revenues were $463 million compared to $441 million in the same quarter last year. These results consisted of $273 million in U.S. sales and $190 million in sales outside the U.S. compared to $234 million and $207 million, respectively, in the first quarter of 2014. TYSABRI U.S. sales include 13 shipping weeks in the first quarter of 2015 versus 12 in the first quarter of 2014.

• Net revenues relating to RITUXAN® and GAZYVA® from our unconsolidated joint business arrangement were $331 million compared to $297 million in the same quarter last year.
• ELOCTATE® revenues were $54 million and ALPROLIX® revenues were $43 million.

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

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