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Financial Report: Biogen Idec 2Q

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Biogen Idec

2Q Revenues: $993 million (+28%)

2Q Earnings: $207 million (+11%)

YTD Revenues: $1.9 billion (+30%)

YTD Earnings: $369.7 million (+16%)

Comments: Growth in the quarter was driven by Avonex sales up 14% to $527 million, Tysabri sales up 210% to $147 million, and Rituxan revenues from the unconsolidated joint business arrangement up 21% to $279 million. Tysabri revenue comprised $46 million related to product sold through Elan in the U.S. and $101 million related to product sold by Biogen Idec Internationally. Royalties in the quarter were $28 million (+22%). R&D expenses were $252.3 million in the quarter (+16%) and $510.5 million YTD (+25%).

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