Biogen Idec said its third-quarter earnings rose 39%, boosted by higher sales of its multiple sclerosis drugs including Tysabri. The company said that net income rose to $352m from $254m the same time last year.
Revenue rose 11% to $1.31 billion. Analysts had expected revenue of $1.27 billion.
Global sales of its multiple sclerosis drug Tysabri, which Biogen sells in partnership with Ireland's Elan, rose by 28% to $393m. The figure was in line with analyst expectations.
Tysabri is widely considered the most effective multiple sclerosis drug, but its sales have been crimped because it can cause a deadly brain infection known as progressive multifocal leukoencephalopathy, or PML.
Biogen has been developing a test to screen patients for the presence of JC virus, which is believed to cause PML. The company also said that sales of its multiple sclerosis drug Avonex rose 6% to $682m.
