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news.Biogen Idec, a company engaged in the manufacturing, discovery, development and commercialisation of therapies, has reported revenues of $1.18bn for the third quarter ended 30 September 2010, an increase of 5%, compared to $1.12bn for the same period in 2009.
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Biogen Idec has posted a net income of $112.18m for the third quarter 2010, or $1.05 per diluted share, compared to net income of $279.6m, or $0.95 per diluted share, for the comparable period in 2009.
For the nine months ended 30 September 2010, Biogen Idec has posted a revenue of $3.5bn, compared to $3.25bn for the year ago period.
Biogen Idec has posted a net income of $626.82m, or $2.95 per diluted share for the nine months ended 30 September 2010, compared to $671.07m, or $2.28 per diluted share, for the year ago period.
Biogen Idec CEO George Scangos said that they had another solid quarter driven primarily by increased Avonex and Tysabri revenues.
"We also continued to demonstrate our position in MS with our showing at this year’s ECTRIMS Congress, while expanding our neurology foothold with the licensing agreement for KNS-760704 (dexpramipexole) for the treatment of ALS," Scangos said.