Biogen Reports Strong 1Q Results

Biogen Inc. reported first quarter 2015 results, including revenues of $2.6 billion, a 20% increase compared to the first quarter of 2014.

“In the first quarter, we continued to gain share in the MS [multiple sclerosis] market, and we believe that our MS product portfolio is well positioned to provide patients the breadth of choices that they need,” said Chief Executive Officer George A. Scangos, PhD, in a company statement. “While we saw moderating patient growth of our oral MS therapy Tecfidera in the U.S. and Germany, the launch of Plegridy continued to go well, and we have seen continued strong performance from Tysabri. We believe that our portfolio offers patients leading choices among oral, interferon, and high-efficacy therapies, and we look forward to continued growth in our global market share.”

Total multiple sclerosis product sales were $2.1 billion in the first quarter of 2015 compared to $1.7 billion in the same quarter last year. Tecfidera revenues were $825 million in the first quarter of 2015 compared to $506 million in the same quarter last year. Interferon revenues, including Avonex and Plegridy, were $755 million in the first quarter of 2015, compared to $761 million in the same quarter last year. Tysabri revenues were $463 million compared to $441 million in the same quarter last year.

In other first-quarter highlights, in January 2015, Biogen and Columbia University Medical Center formed a $30 million strategic alliance to conduct genetics discovery research on the underlying causes of disease and to identify new treatment approaches. Also in January 2015, Samsung Bioepis, a joint venture (JV) between Samsung Biologics and Biogen, received European Medicines Agency (EMA) acceptance and validation of its marketing authorization application (MAA) for its etanercept biosimilar candidate. In March 2015, the EMA also accepted and validated the MAA for the JV's infliximab biosimilar candidate. And in February 2015, Biogen completed its acquisition of U.K.-based Convergence Pharmaceuticals. Convergence is a clinical-stage biopharmaceutical company with a portfolio of ion channel-modulating product candidates for neuropathic pain including CNV1014802, a product candidate being developed for trigeminal neuralgia, a chronic orphan disease.

Source: Biogen

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