Biogen Idec Swings to $43 Million Profit

Biogen Idec said it swung to a $43 million first-quarter profit after a loss a year ago, but the biotechnology company took a $36 million charge from its withdrawal of a once-promising multiple sclerosis drug. The quarterly result fell short of Wall Street expectations' for Biogen Idec, which said it hopes to complete a review by late summer of safety concerns that led it to pull the drug Tysabri from the market on Feb. 28. Cambridge-based Biogen Idec said it will then discuss the findings with the U.S. Food and Drug Administration.

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