Biogen Idec affirmed its outlook for 2006 earnings as it awaits word from the US Food and Drug Administration on whether its withdrawn multiple sclerosis drug Tysabri can be returned to the market.
The company still expects to earn $1.95 to $2.10 per share this year on an adjusted basis, Chief Executive Jim Mullen said at an investor conference.
Mr Mullen said he expects the FDA to call for a special advisory panel to review the company's application to resume sales of Tysabri, although a date has not been set.
The FDA is slated to make a decision on the drug by late March. Biogen and partner Elan Corp. PLC pulled the drug from the market nearly a year ago after it was associated with a potentially fatal brain disorder.