Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News Biogen Idec announces first-quarter results

Biogen Idec announces first-quarter results

28th April 2008

Biogen Idec has announced its results for the first-quarter of the 2008 financial year, with the firm reporting strong figures and record revenues for the period.

The company recorded a 32 per cent increase in revenues compared to the same period last year, up to $942 million (475 million pounds), with this figure driven mainly by strong sales of Avonex (interferon beta-1a), Tysabri (natalizumab) and Rituxan (rituximab).

Earnings per share on a reported basis increased 42 per cent cent compared to the comparable period in 2007, up to $0.54, while GAAP net income rose 23 per cent to $163 million.

James Mullen, chief executive officer of the company, said: “Biogen Idec delivered record revenues and outstanding financial results in the first quarter, as we more than tripled Tysabri sales compared to the same period last year.

“Our core products Avonex and Rituxan continued to generate strong sales.”

He added that taking out the key data readouts forecast for 2008 and the strong momentum of the company, its prospects have never been better.

In February 2008, Biogen Idec announced an 18 per cent increase in sales over the 2007 fiscal year, with revenues rising to $3.17 billion, with a 193 per cent increase in GAAP reported net income to $638 million.

We currently have 9 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.