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Financial Report: Biogen Idec 1Q11

Growth in the quarter was primarily driven by Tysabri revenues, up 15% to $251 million, and Avonex sales, up 8% to $642 million.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Biogen Idec 1Q11

1Q Revenues: $1.2 billion (+9%)

1Q Earnings: $308.8 million (+40%)

Comments: Growth in the quarter was primarily driven by Tysabri revenues, up 15% to $251 million, and Avonex sales, up 8% to $642 million. Rituxan revenues from the company’s joint business arrangement with Elan were flat at $256 million for the quarter. Other product revenue in the quarter was flat at $13 million.

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