Biogen Idec Reports Very Healthy Q4 and Full-Year 2007 Earnings

(NewsVisual, powered by IntellectSpace) -- As bad or mediocre earnings reports began to amass, the biotechnology company Biogen Idec Inc (NASDAQ: BIIB) announced the good news on Wednesday that its fourth-quarter and full-year 2007 earnings increased over 2006’s by 109 percent and 216 percent, respectively.

The company reported its GAAP (generally accepted accounting principles) figures as follows:

In terms of its quarterly results, the company’s diluted income per common share increased to $0.67 in Q4 2007 from $0.32 in Q4 2006; whereas, the company’s net income increased 84 percent to $201 million in Q4 2007 from   $109 million in Q4 2006.

Biogen’s full-year 2007 increased diluted earnings per share to $1.99 from $0.63 in 2006; whereas, the company’s net income increased 193 percent to $638 million in 2007 from $218 million in 2006.

The company’s full-year 2007 revenues increased 18 percent to $3.17 percent that was driven by sales of its key products, including Tysabri, Rituxan, and Avonex, the company said.

"We're extremely proud of our accomplishments in 2007,” said CEO/President James Mullen in the company’s statement.

“We delivered on our four-year growth targets; and we advanced and expanded our pipeline. We're confident 2008 will be another year of strong financial performance and many meaningful clinical data readouts,” he added.

The markets greeted Biogen’s earnings announcement warmly, sending its share price up from the previous close of $60.52 to $62.27 in afternoon trading (1:55pm ET).

NewsVisual created an IntellectSpace Knowledge Map of the Biogen’s Board of Directors in order to determine whether they are likely to be able to offer its Management Team sagacious business advice.

The Knowledge Map shows that nearly every Director at Biogen currently holds significant leadership positions at other corporations, especially in the health and science sectors.

For example, Biogen CEO/President Mullen is a Director at PerkinElmer Inc; Director William Young has board or executive ties to Theravance and Genetech, and he is the CEO/Chairman of Monogram Biosciences.

In addition, Biogen Director Marijin E Dekkers is the CEO/President of ThermoFisher Scientific, and Biogen Director Lawrence C Best has senior leadership experience with Boston Scientific, Ernst & Young and Haemonetics.

(Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).

Click here or copy this link into your Internet Explorer browser for an interactive version of this IntellectSpace Knowledge Map: http://nv.intellectspace.com/ispace/GuestMonitor.aspx?id=a7e7757b-d433-4ff4-b055-224eeb05a269