US biotechnology company Biogen Idec has reported better than expected third-quarter results, but data on its multiple sclerosis treatment Tysabri was mixed. Biogen and Elan are partners on Tysabri.
Biogen said revenue from sales of Tysabri rose 21% from a year earlier to $207m, but there was a decline in the weekly number of new patients using the treatment.
In a conference call with investors, Biogen said it had determined that the risk for patients of developing a potentially deadly brain infection known as PML increases with the number of Tysabri infusions received.
The company said that, together with Elan, it was discussing the possibility of changing the drug's label to reflect the increased risk of PML with duration of treatment.
Biogen said net profit rose 34% to $278m, or 95 cents a share. Revenue was up 3% to $1.12 billion. Elan reports its third-quarter results tomorrow.
