BI's 1st-qtr revenues hit $611M, up 4%

USA-based biotechnology company Biogen Idec says that its total revenues for the first quarter of 2006 were $611.0 million, up 4% on the same period last year. The firm says that the growth has been driven by the success of Rituxan (rituximab), co-developed with fellow US firm Genentech for use in the treatment of certain B-cell non-Hodgkin's lymphomas, which contributed revenues of $183.0 million in the quarter.The firm also cited the 5% growth in worldwide sales of its multiple sclerosis treatment Avonex (interferon beta-1a), which yielded $393.0 million, as a key success driver.

Product regulatory developments

Also in the quarter, the company reported that the Food and Drug Administration had voted unanimously to recommend the reintroduction of Tysabri (natalizumab) for the treatment of relapsing forms of MS, following the firm's decision to withdraw the drug after three cases of progressive multifocal leukoencephalopathy occurred during a trial (Marketletter January 16). The FDA concluded that the product had therapeutic advantages over currently available treatments.