Biogen Idec said today that its fourth-quarter earnings fell due to one-time charges, but sales of its multiple sclerosis drug Tysabri increased.
Net income fell 21% to $240m, or 99 cents a share. Revenue rose 8% to $1.22 billion. Excluding one-time items, the company earned $1.42 a share.
Analysts had on average expected the company to earn $1.23 a share on revenue of $1.17 billion.
Sales of Tysabri, which Biogen markets with Elan, rose 12% to $333m. Analysts on average had been expecting Tysabri sales of $327m.
The company said it expects 2011 earnings, excluding one-time items, to top $5.70 a share, and 2011 revenue growth to be flat to the low single digits.
