Biotechnology company Biogen Idec, which put itself up for sale earlier this month, has reported third-quarter earnings and revenue that fell short of analysts' expectations.
Net profit fell to $119m from $157m a year earlier, as one-time expenses offset higher sales of its drugs for multiple sclerosis and cancer.
Excluding special items, the company earned 58 cents a share. Analysts had expected 64 cents a share.
Revenue rose 12% to $789m but that fell short of the $802.4m forecast by analysts.
Biogen said it expects revenue growth of 16% to 18% this year.
The company said revenue from its top-selling multiple sclerosis drug rose 2% in the third quarter to $455m. US sales were $266m.
The company said it recognised $63m from Tysabri, its multiple sclerosis drug which it markets in partnership with Elan.
