May 01, 2012 at 10:42 AM EDT
Biogen Q1 Earnings Miss Estimates; Outlook In -Line
Leading biotech Biogen Idec (BIIB) traded down 3% early Tuesday after its first-quarter results missed Wall Street's expectations. The company said sales rose 7% over the year-ago quarter to $1.3 billion, essentially the same as analysts expected, but profit of $1.40 a share was down from last year and 8 cents below estimates. Like its fellow biotech Celgene (CELG) last week, Biogen blamed problems in the month of January specifically, which
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