Biogen Idec reports double-digit revenue growth in Q3 2014

Biogen Idec has announced its financial results for the third quarter of 2014, during which it recorded a revenue total of $2.5 billion (1.56 billion pounds).

This represented a 37 percent year-on-year increase, while its diluted earnings per share rose 61 percent and its net income surged by 60 percent over the same timeframe.

During the three-month period, the company was able to launch new therapies for multiple sclerosis (MS) and haemophilia, including the introduction of the oral MS treatment Tecfidera in several European countries.

The firm has also strengthened its capabilities in the fields of amyotrophic lateral sclerosis research, neurology and gene therapy, and was recently named as the leading biotechnology company on the Dow Jones Sustainability Index.

Biogen Idec earned particular praise for its improvements in areas such as environmental reporting, operational eco-efficiency, corporate citizenship and philanthropy, labour practice indicators and human rights, talent retention and supply chain management.

Dr George Scangos, chief executive officer of Biogen Idec, said: "The third quarter was a period of significant achievement as we continued to make progress against our corporate objectives."