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news.Biogen Idec, a discoverer, developer, manufacturer and commercializer of therapies, has reported total revenues of $1.2bn for the first quarter ended 31 March 2011, an increase of 9%, compared to $1.1bn for the same period in 2010.
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The increase was driven primarily by the continued growth of Tysabri (natalizumab) revenues, which increased 15% to $251m, and Avonex (interferon beta-1a) revenues, which increased 8% to $642m.
Biogen Idec’s net income was $294.33m, or $1.2 per diluted per share, compared to $217.44m, or $0.8 per diluted per share, for the same period in 2010.
For the first quarter of 2011, Biogen Idec’s income from operations was $416.28m, compared to $303.68m for the same period in 2010.
Biogen Idec CEO George Scangos said they met several exciting pipeline milestones, including the positive Phase III data read-out from the DEFINE trial for BG-12, their oral MS drug candidate, and the enrollment of the first patient in Phase III EMPOWER trial for dexpramipexole, a potential treatment for ALS.