Oct 25 (Reuters) - Biogen Idec Inc on Thursday reported higher-than-expected third-quarter profit on increased sales of its drugs for multiple sclerosis and cancer, and the U.S. biotechnology company raised its full-year earnings forecast.
Biogen posted a net profit of $398 million, or $1.67 per share, compared with a profit of $354 million, or $1.43 per share, a year ago. Excluding one-time items, the company earned $1.91 per share.
Analysts on average had expected $1.60, according to Thomson Reuters I/B/E/S.
Biogen said it now expects 2012 earnings of $6.40 per share to $6.50 per share, excluding items, up from its prior view of earnings above $6.20.
(Reporting by Bill Berkrot; Editing by Gerald E. McCormick)