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news.Biogen Idec has reported revenue of $1.1 billion in the fourth quarter of 2008, an increase of 20%, compared to $893 million in the same period of 2007.
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Total revenues in 2008 were $4.1 billion, an increase of 29% from $3.2 billion in 2007.
The company has reported net income of $207 million for the fourth quarter of 2008, an increase of 3% from $201 million for the same period of 2007. Net income for full-year 2008 was $783 million, an increase of 23%, compared to $638 million posted in full-year 2007.
The US full-year 2008 diluted earnings per share (EPS) were $2.65, an increase of 33% over $1.99 in 2007. Fourth quarter 2008 diluted EPS were $0.70, an increase of 4% from $0.67 in the fourth quarter of 2007.
James Mullen, CEO of Biogen Idec, said: “A great company is built on outstanding products, pipeline and performance – we are delivering all three for our shareholders.
“In 2008, we grew revenues 29% to more than $4 billion and non-GAAP EPS 34% to $3.66. Tysabri is well on its way to becoming a blockbuster. We have transformed the pipeline over the past two years, with 22 programs in Phase II trials and beyond this year.”