Drug Sales Boost Biogen's Net

Biogen Idec Inc. posted an 11% rise in second-quarter net income Tuesday on strong sales of multiple sclerosis drugs Avonex and Tysabri and the company also boosted its 2008 outlook.

Biogen, which last month won a proxy fight with activist investor Carl Icahn, reported net income of $206.6 million, or 70 cents a share, compared with $186.1 million, or 54 cents a share, a year earlier. Excluding acquisition-related and stock-compensation costs, earnings rose to 91 ...