Biogen Idec Inc said on Wednesday its new, high-profile oral multiple sclerosis drug Tecfidera had sales of $398 million in the fourth quarter, easily exceeding estimates for a third successive quarter and keeping it on track to top $1 billion in its first year on the market.Some of those sales were due to U.S. inventory stocking ahead of a 10 percent Tecfidera price increase in December. Biogen said underlying patient demand for the drug represented about $348 million of the U.S. sales, still ahead of analysts' consensus expectations of about $335 million.Biogen expects 2014 overall revenue growth of about 22 percent to 25 percent and forecast earnings of $11 to $11.20 per share, excluding items.That could be viewed as disappointing to investors as analysts, on average, were looking for $11.63 per share, according to Thomson Reuters I/B/E/S. But the investor focus has been squarely on the performance of Tecfidera, which has already become the top-selling oral MS treatment in the United States despite being third to market.
Biogen Idec Inc. (Biogen Idec) is a global biotechnology company. Shares of BIIB traded higher by 2.61% or $7.77/share to $305.65. In the past year, the shares have traded as low as $152.92 and as high as $315.38. On average, 1278390 shares of BIIB exchange hands on a given day and today's volume is recorded at 1731157.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.08% or $0.03/share to $36.13. In the past year, the shares have traded as low as $29.33 and as high as $38.73. On average, 730682 shares of TRI exchange hands on a given day and today's volume is recorded at 485363.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.45% or $0.18/share to $40.31. In the past year, the shares have traded as low as $29.40 and as high as $42.10. On average, 904041 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 595174.
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