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Biogen EPS misses, guides up

Investor's Business Daily

The biotech's Q1 EPS jumped 25% to $2.47, but missed views by 9 cents. Revenue rose 50.5% to $2.13 bil, above views for $2 bil. U.S. sales of MS drug Tecfidera were $460 mil vs. views of $413 mil. Nearly all individual product sales beat consensus. Biogen Idec (BIIB) lifted its '14 sales growth target to 26%-28% vs. the 24.5% expected by analysts. It sees full-year EPS of $11.35-$11.45, topping views for $11.32. Biogen disclosed state and federal subpoenas regarding its sales and marketing practices. Shares rose slightly.