Biogen Q1 numbers up on strength of MS drug sales
Biogen Idec Inc. (Nasdaq: BIIB) said first-quarter revenue was up 9 percent over the same period a year earlier, driven by the performance of its two blockbuster multiple sclerosis infusion treatments.
The Weston-based biotechnology company reported that revenue was $1.2 billion, with a profit of $294 million, up 35 percent from the first quarter of 2010. The gains were driven by the MS treatments Tysabri, which increased 15 percent to $251 million, and Avonex, which increased 8 percent to $642 million. Quarterly revenue for Rituxan was flat year-over-year, at $256 million.