Biogen Idec highlights growth trends in Q1 2012

Biogen Idec has reported year-on-year sales growth of seven percent during the first three months of 2012.

First-quarter financial data published by the pharmaceutical company revealed that it achieved a revenue total of $1.3 billion during the period, thanks to double-digit growth of key products such as Tysabri and Rituxan.

This helped to offset the unfavourable distribution channel dynamics experienced by its Avonex business in January 2012, which Biogen Idec noted have now been resolved, leading to sales of the drug returning to solidity.

Other highlights included regulatory applications for BG-12 in the US and Europe, while six phase III clinical trial programmes were executed as the company scaled up its research and development activities.

Dr George Scangos, chief executive officer of Biogen Idec, said: "Our revenue growth in the first quarter reflects our strong business fundamentals … We're optimistic about our business outlook for the year."

Biogen Idec also recently announced the formation of Samsung Bioepis, a joint venture in the field of biosimilar drugs created in partnership with Samsung.