Biogen Posts Better-Than-Expected Q1 Profit

Reuters reported that Biogen Idec’s first quarter earnings amounted to $426.8 million up from $302.7 million in the year earlier period boosted by low taxes and excellent sales of its multiple sclerosis treatments.

As quoted in the news article:

Biogen said it now expects earnings, excluding items, of $7.80 to $7.90 per share, up from its prior view of $7.15 to $7.25 per share. The company now sees full-year revenue growth of 16 percent to 18 percent. It had previously projected 10 percent growth. Analysts are estimating adjusted earnings of $7.81 per share on revenue of $6.44 billion.

Click here to read the full Reuters report.