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Home Industry News Biogen Idec reports success in ‘transformative’ first quarter

Biogen Idec reports success in ‘transformative’ first quarter

26th April 2011

Biogen Idec has highlighted the progress it has made towards its long-term business goals during the first quarter of the new fiscal year.

Data from the company's latest financial report shows that the firm was able to increase its quarterly revenues by nine percent year on year to reach a total of $1.2 billion (727.55 million pounds).

Growth was attributed primarily to rising demand for the multiple sclerosis (MS) treatment Tysabri, sales of which increased 15 percent to $251 million, while revenues from its other MS drug Avonex also rose.

In addition, the company was able to meet key developmental milestones for important new therapies such as the amyotrophic lateral sclerosis treatment dexpramipexole and the MS therapy BG-12.

Dr George Scangos, chief executive officer of Biogen Idec, said: "We continued our transformation into a lean, aggressive and focused company and the reinvigoration of research and development is well underway."

Last week, the company was granted a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use for approval of another new MS treatment option, the Avonex Pen intramuscular autoinjector.ADNFCR-8000103-ID-800510827-ADNFCR

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