Biogen Idec Inc. (BIIB): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report

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Summary:
Biogen reported second quarter 2014 EPS of $3.48, well above the Zacks Consensus Estimate of $2.80 and the year-ago earnings of $2.29. Revenues increased 40% to $2.4 billion, well above the Zacks Consensus Estimate of $2.1 billion. Tecfidera continues to impress. Biogen raised its guidance again this year and both earnings and revenue estimates are up significantly. Biogen remains in a strong position in the MS market. While Tecfidera should continue performing well, Tysabri and Avonex should remain strong contributors to the top line. We expect 2014 to be catalyst rich for Biogen with several data readouts expected and maintain an Outperform recommendation on the stock.


Overview:

Biogen Idec Inc. is one of the world's leading biotechnology companies. The company's main areas of focus include neurology, immunology and hemophilia. Products such as Tecfidera (multiple sclerosis MS), Avonex (MS) and Tysabri (MS) currently drive the top line. Other approved/marketed products include Fumaderm (severe psoriasis), Fampyra (improvement of walking in MS patients), Alprolix (hemophilia B), Eloctate (hemophilia A) and Plegridy (MS). Biogen has several candidates in different stages of development in its pipeline including daclizumab (MS).

Biogen also generates significant royalties from partnering agreements with other pharmaceutical and biotechnology companies. Biogen has collaborations with companies like Roche (Rituxan), Acorda (Fampyra), Biovitrum (Eloctate and Alprolix) and AbbVie (daclizumab) among others. In terms of infrastructure, Biogen has substantial manufacturing, research and development expertise in biologics, and strong international exposure for distribution in Europe. This sizeable manufacturing capacity and research capability allows the company to enter into collaborative agreements with smaller biotechnology companies who are looking to advance and commercialize product candidates. The company is based in Weston, MA and has significant operations on both the east and west coasts of the U.S.

Biogen generated total sales of $6.9 billion in 2013, up 26%.

2013 Product Revenue Break-Up


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: Investing , Stocks

Referenced Stocks: BIIB , MS

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