Biogen Profit Rises on Sales of Multiple Sclerosis Drugs
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Biogen Idec Inc., maker of the multiple sclerosis drugs Avonex, Tysabri and Tecfidera, said fourth-quarter profit rose 57 percent on higher sales.
Net income increased to $457.3 million, or $1.92 a share, from $292.1 million, or $1.23, a year earlier, Cambridge, Massachusetts-based Biogen said today in a statement. Excluding one-time items, profit was $2.34 a share, beating the $2.27 average of 27 analysts’ estimates compiled by Bloomberg.