Biogen Idec reports further strong growth in 2013

Biogen Idec has announced its financial results for the 2013 full-year period, during which it generated a revenue total of $6.9 billion (4.19 billion pounds).

This represented a 26 percent year-on-year increase, while its non-GAAP diluted earnings per share came to $8.96, an increase of 37 percent over 2012. For the fourth quarter alone, a 39 percent annual rise in revenues was observed.

Sales of drugs such as Avonex and Tysabri both increased during the year, while its new product Tecfidera has quickly become the number one prescribed oral multiple sclerosis therapy in the US.

The company is planning for three new product launches this year, including two treatments for haemophilia and the first pegylated interferon therapy for multiple sclerosis, while Tecfidera could also be approved and released in Europe.

A number of new alliances – including those recently agreed with Sangamo BioSciences and Samsung Bioepis – will also enhance the firm's future commercial prospects.

George Scangos, chief executive officer of Biogen Idec, said: "Our existing products continued to perform well and the rapid growth of Tecfidera … is a testament to our ability to develop and effectively bring new drugs to patients."