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Biogen Offers Mixed Financial Outlook for 2014

By: Adam Feuerstein | 01/29/14 - 07:21 AM EST

Stocks in this article: BIIB

Biogen Idec (BIIB) reported better-than-expected sales for its multiple sclerosis drug Tecfidera in the fourth quarter and issued a mixed outlook for 2014 financial guidance.

The company's projects 2014 revenue growth to be 22-25% vs. consensus of 21%, so slightly better than expected. Biogen's guidance implies 2014 total revenue in the range of $8.45 billion to $8.66 billion compared to current consensus of $8.35 billion.

On the bottom line, Biogen forecasts 2014 adjusted earnings per share in the range of $11 to $11.20, which is below the consensus of $11.63 per share. It looks like higher R&D costs in 2014 may be the reason for the weaker earnings guidance, according to analysts.

For the fourth quarter, Biogen reported adjusted earnings of $2.34 per share vs. $2.27 consensus. Revenue came in at $1.97 billion vs. $1.94 billion consensus. 

Sales of Tecfidera in the fourth quarter totaled $398 million vs. $345 million consensus. 


Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

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