Biogen profits up but MS drug sales slow

BIOGEN Idec Inc reported second-quarter earnings that topped expectations yesterday but sales of its key multiple sclerosis drug Tysabri were lower than expected, pushing the company’s shares down as much as 2.7%.

Global sales of Tysabri, which Biogen co-markets with Irish drugmaker Elan Corp Plc, rose to $298 million (€231m) from $254m a year ago, but analysts had on average expected Tysabri sales of about $307m.

Tysabri was temporarily withdrawn from the market in 2005 after being linked with a potentially deadly brain infection known as PML. It was reintroduced in 2006 with stricter safety warnings, but physicians are closely monitoring the number of new cases of PML reported each month.