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Financial Report: Biogen Idec

Revenues up 18% in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Biogen Idec
 
2Q Revenues: $1.4 billion (+18%)
 
2Q Earnings: $387.1 million (+27%)
 
YTD Revenues: $2.7 billion (+12%)
 
YTD Earnings: $689.5 million (+13%)
 
Comments: Global in-market sales of TYSABRI in the quarter were $395 million (+2%). Revenues from other products were $34 million, compared to $16 million in 2Q11. Royalty revenues were $37 million, up 29%. AVONEX revenues increased 16% to $762 million. RITUXAN revenues from Biogen’s joint business arrangement were $285 million, up 31%, but impacted by a $50 million charge to cover its share of damages that may be awarded in Genentech’s ongoing arbitration with Hoechst GmbH.

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