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Biogen Idec, Inc. (BIIB)
by Zacks Equity ResearchAugust 02, 2012 | Comments : 0 Recommended this article: (0)
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Biogen increased its earnings outlook for 2012 and now expects EPS to exceed $6.20. Estimates have been on the rise following the release of strong second quarter results. The Zacks Consensus Estimate for 2012 has gone up by 19 cents to $6.33 per share. We are upgrading the stock to Outperform.
Key products Avonex and Tysabri should continue contributing significantly to sales. BG-12 should help drive long-term growth. Meanwhile, Biogen's restructuring initiative should help drive the bottom line. We are also pleased with Biogen's efforts to streamline its pipeline.
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