Biogen Idec sees 8% 4th-qtr 2005 sales rise

The world's third-largest biotechnology firm, Biogen Idec, says that fourth-quarter 2005 revenues reached $633.0 million, up 8% year-on-year, marginally beating Wall Street expectations.

The firm's solid performance was largely driven by the performance of its two key drugs: Avonex (interferon beta-1a), its 10-year old treatment for patients with relapsing forms of multiple sclerosis, rose 12% to $413.0 million, while Rituxan (rituximab), a drug for certain B-cell non-Hodgkin's lymphomas, co-developed with fellow US major Genentech, jumped 6% to earn $182.0 million.

However, sales of its cancer drug Zevalin (ibritumomab tiuxetan) plummeted 51.7% to $4.1 million. During the period, clinical data were released that showed that patients may benefit from earlier and consolidated use of the radioimmunotherapy in refractory and hard-to-treat cancers, including diffuse large B-cell lymphoma, mantle cell lymphoma, and follicular non-Hodgkin's lymphoma.