Monday, May 12
Biogen Idec Dominant Player In Multiple Sclerosis Market
For Biogen Idec (BIIB), the "good" is Tecfidera, its recently approved oral multiple sclerosis (MS) treatment. The drug is widely expected to be a blockbuster for the company. According to some analysts, annual sales of the drug could hit $3.5 billion by 2017. Novartis (NVS) and Sanofi (SNY) are the only other drugmakers with approved MS pills on the market.
When Biogen Idec reported second-quarter earnings in July, Tecfidera sales totaled $192 million, more than double the consensus estimate. Sales of the company's injectable MS treatment, Avonex, rose 2% to $774 million. Earlier this year, the company acquired sole ownership of MS drug Tysabri from partner Elan (ELN) for $3.25 billion. In 2012, Tysabri sales totaled $1.6 billion, up 8% from 2011.
Earnings are due Oct. 28 before the open. The Thomson Reuters consensus estimate calls for profit of $2.10 a share, up 10% from a year ago with sales up about 29% to $1.78 billion. READ MORE