Biogen reports encouraging growth in second quarter of 2015

Biogen has announced its financial results for the second quarter of 2015, during which it made strong progress in a number of key strategic areas.

The company's revenues rose by seven percent year over year to $2.6 billion (1.68 billion pounds), with non-GAAP diluted earnings per share increasing by 21 percent to $4.22 during the quarter.

Total multiple sclerosis (MS) product sales rose to $2.1 billion, with Tecfidera becoming the most prescribed oral MS therapy globally, while Plegridy and Tysabri also experienced good momentum.

Meanwhile, its haemophilia products saw increased uptake – with two biosimilar candidates coming to Europe next year – while the firm is actively recruiting for two global phase III studies of aducanumab in patients with early Alzheimer's disease.

Dr George Scangos, chief executive officer of Biogen, said: "The company continues to invest in the science that is core to our future and we are continuing to advance our pipeline in areas where patients have limited or no treatment options."

This was the first quarter that Biogen has completed under its new name, after rebranding from Biogen Idec in March 2015.