Biogen Idec today reported total revenues for the second quarter rose nine percent to $660 million, driven primarily by Avonex (Interferon beta-1a) worldwide sales up 12 percent to $429 million and Rituxan (rituximab) revenues from the unconsolidated joint business arrangement up 11 percent to $206 million.
But the Cambridge, MA-based biotechnology company posted a net loss of $170.6 million, versus a profit $34.5 million a year ago.
The quarterly loss reflects a $331 million write-off of acquired in-process research and development, the impact of stock options expenses and other acquisition-related adjustments.
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