Biogen reports strong financial performance in Q1 2016

Biogen has announced its financial results for the first quarter of 2016, during which it delivered a revenue total of $2.7 billion (1.85 billion pounds).

This represents a year-on-year improvement of seven percent, driven by a 15 percent uplift in worldwide Tecfidera revenues, as well as stronger demand for Eloctate and Alprolix. This helped to offset a decline in sales of interferon.

Key highlights of the quarter included the recent European approval of its anti-TNF biosimilar Benepali and the recommendation for EU approval secured by Flixabi, another drug in the same class.

During the remainder of 2016, the firm will push ahead with efforts to secure approval for Flixabi and Alprolix, while proceeding with the development of aducanumab in early Alzheimer's disease and nusinersen in spinal muscular atrophy.

Dr George Scangos, chief executive officer of Biogen, said: "Our leading multiple sclerosis portfolio, a growing haemophilia business and our ongoing focus on managing expenses led to robust earnings growth in the first quarter."

The firm generated $10.8 billion in revenues during 2015. This year, a total in the range of $11.1 billion to $11.3 billion is expected.