Breaking News, Financial News

Financial Report: Biogen Idec 2Q

Growth in the quarter was driven by Tysabri sales, up 27% to $188 million, and Avonex sales, up 12% to $591 million.

Biogen Idec 2Q

2Q Revenues: $1.1 billion (+10%)

2Q Earnings: $144.9 million (-30%)

YTD Revenues: $2.1 billion (+11%)

YTD Earnings: $391.5 million (+5%)

Comments: Growth in the quarter was driven by Tysabri sales, up 27% to $188 million, and Avonex sales, up 12% to $591 million. Revenues include $276 million from Biogen’s joint business arrangement with Genentech for the co-promotion of Rituxan in the U.S. and a payment of $110 million related to the collaboration and license agreement with Acorda Therapeutics. R&D expenses in the quarter were up 65% to $416.5 million. Royalties were $25 million in the quarter compared to $28 million in 2Q08.

Sign up today for Contracting & Outsourcing 2009!
dhruv_cp.rodpub.com/2009conference

Add us as a preferred source on Google

Get the latest Contract Pharma news, insights and analysis in your Google Search and AI experiences.

Keep Up With Our Content. Subscribe To Contract Pharma Newsletters