Biogen Idec reports success from growth initiatives

Biogen Idec has expressed satisfaction with the progress made on its Framework for Growth corporate transformation initiative.

Chief executive officer Dr George Scangos told investors that since the launch of the programme in November 2010, the company has been able to achieve a number of key targets in terms of its organisation and drug development projects.

These include the appointment of Dr Douglas Williams and Steven Holtzman to key roles in its management team, the continued expansion of its drug Tysabri's labelling and the purchase of promising early-stage programmes from Neurimmune.

Moreover, the firm expects to progress the clinical development of its investigational compounds dexpramipexole, BG-12 and daclizumab in 2011, which will support its aim to launch five new products by 2015.

Dr Scangos said: "Biogen Idec's business fundamentals are strong and we are building on those strengths to transform the company in 2011 and beyond."

According to the company's most recent financial report in October 2010, Biogen Idec saw year-on-year business improvements in 2010, with sales of drugs such as Avonex and Tysabri increasing.