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Financial Report: Biogen Idec 3Q

Revenues up 6% in the quarter on Avonex boost

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Biogen Idec

3Q Revenues: $1.4 billion (+6%)

3Q Earnings: $398.4 million (+13%)

YTD Revenues: $4.1 billion (+10%)

YTD Earnings: $1.1 billion (+16%)

Comments: Avonex sales were $736 million (+8%). Tysabri sales were $275 million (-1%). Rituxan revenues from an unconsolidated joint business arrangement were $288 million (+8%). Global in-market sales of Tysabri were $404 million (+3%), including $230 million in the U.S. Revenues from other products were $28 million, compared to $17 million in 3Q11. Royalty revenues were $47 million, compared to $52 million in 3Q11. In the quarter quarter, Biogen recognized a gain of $32 million related to the sale of rights related to Benlysta.

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