Biogen Idec sees major revenue increase in Q3 2013

Biogen Idec has highlighted the strong year-on-year growth it experienced during the third quarter of 2013 in its latest financial report.

The firm generated total revenues of $1.8 billion (1.12 billion pounds), an increase of 32 percent over the third quarter of 2012, with sizeable double-digit increases also recorded in terms of earnings and income.

Revenue gains were driven by the success of Tecfidera, which has become the largest oral multiple sclerosis therapy in the US after only six months on the market, while its revenues from sales of Tysabri surged by 46 percent after it acquired full rights to the therapy from Elan.

In the coming months, the firm will continue to make efforts to transform its approach to early-stage research and deliver new advances for the treatment of haemophilia A and B.

Biogen Idec's chief executive officer George Scangos said: "Looking ahead, we believe we are entering an exciting period in our company's evolution."

This comes after the firm reported positive clinical data for Tecfidera, Tysabri and Plegridy at the European Committee for Treatment and Research in Multiple Sclerosis congress earlier this month.