Stockwatch: Hero or villain – results matter
This article was originally published in Scrip
Executive Summary
Biogen Idec continued the good run of reports from profitable biotech companies by announcing quarterly revenues of $1.42 billion, against analysts' estimates of $1.38 billion, but missing its consensus earnings per share (EPS) target by six cents (scripintelligence.com, 29 January 2013). Last quarter's results are much more of a rear mirror view for Biogen than most other companies with the expected US and European approval of Tecfidera, formally BG-12, for multiple sclerosis (MS) looming large in their headlights.