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Financial Report: Biogen Idec 2Q

Growth in the quarter was driven by Tysabri sales, up 27% to $188 million, and Avonex sales, up 12% to $591 million.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Biogen Idec 2Q 2Q Revenues: $1.1 billion (+10%) 2Q Earnings: $144.9 million (-30%) YTD Revenues: $2.1 billion (+11%) YTD Earnings: $391.5 million (+5%) Comments: Growth in the quarter was driven by Tysabri sales, up 27% to $188 million, and Avonex sales, up 12% to $591 million. Revenues include $276 million from Biogen’s joint business arrangement with Genentech for the co-promotion of Rituxan in the U.S. and a payment of $110 million related to the collaboration and license agree...

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