For the third quarter, revenues for the drug maker jumped a hefty 34% year over year to $138.5 million. Net income grew a more modest 18% to $45.5 million, or $0.26 per share, due to rising legal, marketing, and R&D costs.
IDEC's share of Rituxan sales rose 36% to $134 million. The blockbuster non-Hodgkins lymphoma drug, a monoclonal antibody co-promoted with Genentech
Overall, U.S. sales for Rituxan increased 31% to $354 million in the third quarter.
Sales of Zevalin, IDEC's other cancer drug, declined from $5 million to $4.4 million. But then, nobody really expected much from the drug in the near term.
Going forward, the company expects to close its $6 billion merger with Biogen
So maybe we'll see some surprises then. But with its share in one blockbuster representing virtually all of its revenues -- and its partner having already reported -- IDEC wasn't going to surprise anyone this time around.
Jeff Hwang can be reached at JHwang@fool.com