Biogen (NASDAQ:BIIB) reports 4Q16 Profit Up 12.0%

Biogen (NASDAQ:BIIB) reports 4Q16 Profit Up 12.0%


Biogen (NASDAQ:BIIB) BIIB: (%) headquartered in Cambridge, Massachusetts reported net income for the fourth quarter of $ 649.00 million or $ 2.99 per share, compared to income $ 832.00 million or $ 3.77 per share for the year-ago quarter.

The company reported fourth quarter Non-GAAP net income of $ 1093.00 million or $ 5.04 per share, while analysts from Thomson Reuters expected $ 4.96 per share.

Top line figures for the fourth quarter increased to $ 2.87 billion from $ 2.84 billion in the same quarter last year, where as analysts anticipated $ 2.94 billion.

Michel Vounatsos, CEO, commented that Biogen seeks to advance transformational pipeline programs for some of the greatest challenges in medicine, including Alzheimer’s disease, Parkinson’s, and ALS.

For the full year 2017, Revenue is expected to be in the range of $11.1 billion to $11.4 billion, at the same time, Non-GAAP diluted EPS is expected to be between $20.45 and $21.25.

About: BIIB: (%)

Biogen Inc. discovers, develops, manufactures, and delivers therapies for the treatment of neurodegenerative diseases, hematologic conditions, and autoimmune disorders. It offers TECFIDERA, AVONEX, and PLEGRIDY to treat relapsing forms of multiple sclerosis (MS); TYSABRI to treat relapsing forms of MS and Crohn’s disease; and FAMPYRA to improve walking ability for patients with MS. The company also provides ELOCTATE to treat hemophilia A for control of bleeding episodes; ALPROLIX to treat hemophilia B for control of bleeding episodes; RITUXAN for treating non-Hodgkin’s lymphoma, rheumatoid arthritis, and chronic lymphocytic leukemia (CLL); GAZYVA for the treatment of patients with previously untreated CLL; and FUMADERM to treat plaque psoriasis.

The company’s products in Phase III development stage comprise ZINBRYTA, a monoclonal antibody for the treatment of relapsing-remitting MS; Aducanumab for Alzheimer’s disease; and ISIS-SMNRx for spinal muscular atrophy. Its Phase II clinical trial products include Anti-LINGO for optic neuritis and MS; Amiselimod for multiple autoimmune indications; BAN2401 and E2609 for Alzheimer’s disease; Raxatrigine for trigeminal neuralgia; rAAV-XLRS for X-linked juvenile retinoschisis; and BG00011 for idiopathic pulmonary fibrosis. Its Phase I clinical trial products comprise Dapirolizumab pegol for systemic lupus erythematosus (SLE); ISIS – DMPK for myotonic dystrophy; Anti-BDCA2 for SLE; Anti-alpha-synuclein for Parkinson’s disease; and BIIB063 for sjogren’s syndrome. The company has a strategic research collaboration with Ionis Pharmaceuticals, Inc.; and an agreement with Siemens Healthineers to develop new magnetic resonance imaging tools for multiple sclerosis. It offers products through its sales force, marketing groups, and third parties worldwide. The company was formerly known as Biogen Idec Inc. and changed its name to Biogen Inc. in March 2015. Biogen Inc. was founded in 1978 and is headquartered in Cambridge, Massachusetts.