Biogen Idec reports revenue increase in Q3 2012

Biogen Idec has highlighted the strong growth factors driving its business in its financial report for the third quarter of 2012.

The pharmaceutical company's revenue total for the three-month period came to $1.4 billion (868.46 million pounds), up by six percent year over year, while its non-diluted earning per share total rose by 19 percent.

Drugs that experienced annual sales increases included Avonex and Rituxan, while the firm also gained $32 million in relation to the sale of its royalty and other rights related to Benlysta.

Additionally, Biogen Idec was able to advance its late-stage pipeline, reporting positive results from the registrational study for factor IX in haemophilia B, while moving ahead with plans to launch BG-12 next year.

Dr George Scangos, chief executive officer of Biogen Idec, said: "Through the first three quarters of 2012, Biogen Idec is on track to accomplish what we set out to do at the beginning of the year."

Earlier this month, the firm reported positive data from a number of clinical studies of BG-12, demonstrating its efficacy in the treatment of multiple sclerosis.