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July 22, 2008
By: Tim Wright
Biogen Idec 2Q Revenues: $993 million (+28%) 2Q Earnings: $207 million (+11%) YTD Revenues: $1.9 billion (+30%) YTD Earnings: $369.7 million (+16%) Comments: Growth in the quarter was driven by Avonex sales up 14% to $527 million, Tysabri sales up 210% to $147 million, and Rituxan revenues from the unconsolidated joint business arrangement up 21% to $279 million. Tysabri revenue comprised $46 million related to product sold through Elan in the U.S. and $101 million related to product sold by Biogen Idec Internationally. Royalties in the quarter were $28 million (+22%). R&D expenses were $252.3 million in the quarter (+16%) and $510.5 million YTD (+25%).
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