Biogen Idec reports positive business growth in second quarter

Biogen Idec has published its financial report for the second quarter of the current fiscal year, during which it experienced double-digit sales growth.

The company's revenue total for the three-month period increased by 18 percent compared with the corresponding period of 2011, with the majority of sales generated by its multiple sclerosis (MS) treatment Avonex.

During the quarter, strong uptake of the Avonex Pen and Avostartgrip titration dosing kit was observed in both the EU and US, while the number of patients being treated using another MS therapy, Tysabri, rose to 69,100.

Biogen Idec also made a number of preparations ahead of the launch of its new product BG-12 and strengthened its clinical pipeline by carrying out a series of successful drug trials.

Dr George Scangos, the company's chief executive officer, said: "We had a very productive quarter, delivering both revenue and earnings growth, while continuing to invest in the company's future."

Last week, the company allied with a number of academic and research institutions on a new project to study the genetic causes of amyotrophic lateral sclerosis.