Biogen highlights strong financial performance during 2016

Biogen has announced its financial results for 2016, during which its total revenues rose by six percent year-on-year to $11.4 billion (9.14 billion pounds).

This represented a nine percent increase on a constant currency basis, with growth driven by strong sales of key brands such as Tecfidera, Tysabri, Eloctate, Alprolix and Benepali, which helped to offset a fall in worldwide interferon revenues.

During the year, the company was able to introduce important new therapies such as Spinraza for spinal muscular atrophy and Zinbryta for multiple sclerosis, while appointing Michel Vounatsos as its new chief executive officer.

Revenue in the range of $11.1 billion to $11.4 billion is expected once again in 2017.

Mr Vounatsos said: "My plan is to maintain a disciplined focus on near-term execution, while laying the groundwork for Biogen's long-term sustainability through continued investment in R&D and innovation and business development."

The company has also confirmed that the separation of its global haemophilia business into a new standalone organisation called Bioverativ has now been completed.

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