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Financial Report: Biogen Idec

Revenues up 21% in the quarter with Tecfidera launch

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Biogen Idec
 
2Q Revenues: $1.7 billion (+21%)
 
2Q Earnings: $490.7 million (+27%)
 
YTD Revenues: $3.1 billion (+16%)
 
YTD Earnings: $917.4 million (+33%)
 
Comments: Avonex revenues increased 2% to $774 million in the quarter. Tysabri revenues increased 38% to $387 million, primarily due to the acquisition of Elan’s rights, booking 100% of revenues. Tecfidera, a new oral treatment for MS, had revenues of $192 million in the quarter, exceeding already lofty expectations. Rituxan revenues from the company’s unconsolidated joint business arrangement were $289 million, up 1%. Royalties were $38 million in the quarter, compared to $37 million in 2Q12.

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