Biogen Idec revenues increase in first quarter

Biogen Idec’s quarterly revenues for the first three months of 2010 have increased by seven per cent compared to the corresponding period of 2009.

The pharmaceutical company has seen a number of its drugs demonstrate improved product sales in the first quarter, with revenues from multiple sclerosis (MS) drugs Tysabri and Avonex growing by 32 per cent and seven per cent respectively.

As a result of this performance, the company was able to achieve an overall revenue figure of $1.1 billion (713 million pounds).

James Mullen, Biogen Idec’s president and chief executive officer, expressed confidence that upcoming developments such as the JC virus assay and Surpass comparative study will help to drive Tysabri sales further in the long term.

He said: “We continue to execute on our strategy and actively position Biogen Idec for future growth.”

Earlier this month, the company published data from a new clinical study of Tysabri, which outlined its effectiveness in improving cognition, visual function and quality of life among MS patients.