Biogen Idec Inc. (NASDAQ: BIIB) is scheduled to release its second-quarter earnings before the opening bell on Tuesday, July 26, 2011. Analysts, on average, expect the company to report earnings of $1.37 per share on revenue of $1.18 billion. In the year ago quarter, the company reported earnings of $1.31 per share on revenue of $1.21 billion.
Biogen Idec Inc., a biotechnology company, discovers, develops, manufactures, and markets therapeutics in the areas of neurology, immunology, hemophilia, and oncology in the United States and internationally. Multiple sclerosis affects about 400,000 people in the U.S., and 2.1 million worldwide, according to the National Multiple Sclerosis Society.
In the preceding first quarter, the Weston, Massachusetts-based company's net income was $294.33 million, or $1.20 per share, compared to $217.44 million, or $0.80 per share, in the year-earlier quarter. On an adjusted basis, the company earned $1.41 per share in the first quarter. Revenue rose 9 percent to $1.2 billion from $1.11 billion in the same quarter last year. Analysts, on average, expected the company to report earnings of $1.41 per share on revenue of $1.18 billion.
In January, Biogen forecast full-year 2011 adjusted earnings "above" $5.70 a share on flat to single-digit revenue growth.
The Biotechnology sector can be very difficult to track as a whole because of its volatile and individual nature. Developments regarding government approvals, litigation, and discoveries all have the ability to elicit large movements in stock prices.
Biogen has suggested that it may have discovered a new way to treat multiple sclerosis. The sector is looking hard for new drugs as it prepares for looming patent cliffs. The company received conditional approval of multiple sclerosis pill Fampyra in Europe, after a positive recommendation in May that followed an earlier rejection.
On TTuesday, investors will be looking for updates on flagship multiple-sclerosis drugs Avonex and Tysabri, sold with Elan Corp. (ELN). Also, expectations are high for the second set of late-stage data on Biogen's oral MS drug, BG-12, which is expected before year-end, along with important mid-stage data on another MS treatment, daclizumab.
Full Disclosure: None.
Biogen Idec Inc., a biotechnology company, discovers, develops, manufactures, and markets therapeutics in the areas of neurology, immunology, hemophilia, and oncology in the United States and internationally. Multiple sclerosis affects about 400,000 people in the U.S., and 2.1 million worldwide, according to the National Multiple Sclerosis Society.
In the preceding first quarter, the Weston, Massachusetts-based company's net income was $294.33 million, or $1.20 per share, compared to $217.44 million, or $0.80 per share, in the year-earlier quarter. On an adjusted basis, the company earned $1.41 per share in the first quarter. Revenue rose 9 percent to $1.2 billion from $1.11 billion in the same quarter last year. Analysts, on average, expected the company to report earnings of $1.41 per share on revenue of $1.18 billion.
In January, Biogen forecast full-year 2011 adjusted earnings "above" $5.70 a share on flat to single-digit revenue growth.
The Biotechnology sector can be very difficult to track as a whole because of its volatile and individual nature. Developments regarding government approvals, litigation, and discoveries all have the ability to elicit large movements in stock prices.
Biogen has suggested that it may have discovered a new way to treat multiple sclerosis. The sector is looking hard for new drugs as it prepares for looming patent cliffs. The company received conditional approval of multiple sclerosis pill Fampyra in Europe, after a positive recommendation in May that followed an earlier rejection.
On TTuesday, investors will be looking for updates on flagship multiple-sclerosis drugs Avonex and Tysabri, sold with Elan Corp. (ELN). Also, expectations are high for the second set of late-stage data on Biogen's oral MS drug, BG-12, which is expected before year-end, along with important mid-stage data on another MS treatment, daclizumab.
Full Disclosure: None.
