Biogen reports record-breaking financial results for second quarter of 2017

Biogen has announced its financial results for the second quarter of 2017, during which it delivered a revenue total of $3.1 billion (2.38 billion pounds).

This represented a six percent year-on-year increase and a 15 percent increase when excluding haemophilia revenues, with the total representing a new quarterly record for the Biogen business.

Revenue growth was driven by strong demand for multiple sclerosis therapies, with sales in this category up by five percent, thanks in large part to a double-digit rise in Tecfidera revenues. Sales of Spinraza and Benepali also ticked upwards.

During the quarter, the company completed the separation of its global haemophilia business, which has now begun trading as a new standalone company called Bioverativ. It also acquired a phase III-ready stroke asset from Remedy Pharmaceuticals, and licensed a treatment for Alzheimer's disease and progressive supranuclear palsy from Bristol-Myers Squibb.

Based on its strong performance in the year to date, Biogen has increased its revenue guidance for the full year, with revenue now expected to reach between $11.5 billion and $11.8 billion.

Michel Vounatsos, Biogen's chief executive officer, said: "We are developing transformational therapies to address what we believe are becoming the world's most significant unmet medical needs. Our mission is clear – the world needs a leader in neuroscience, and we aim to be that leader."

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