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Financial Report: Biogen Idec

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Biogen Idec

1Q Revenues: $716 million, (+17%)

1Q Earnings: $132 million (+7%)

Comments: Growth in the quarter was driven by Avonex sales, up 14% to $449 million, and Rituxan revenues from the joint business arrangement with Genentech, up 13% to $207 million. Global in-market net sales of Tysabri in the quarter were $48 million, of which Biogen recognized $30 million based on its collaboration with Elan. R&D expenses were $191.4 million, up 31%. In the quarter, the company completed its acquisition of Syntonix Pharmaceuticals, which included an in-process R&D charge of $18 million.

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