With Third Quarter Results, Biogen Idec Continues to Ride Its Warhorse Avonex
This article was originally published in The Pink Sheet Daily
Executive SummaryQ3 results were strong, thanks to Avonex, but new competition from Novartis' oral MS therapy Gilenya and dwindling Rituxan royalties from Roche threaten longer-term outlook.
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In the second quarter, Biogen demonstrated a continuing ability to milk revenue from established MS products while it prepares to launch a wave of potentially market-shifting NMEs.