Novartis' Gilenya sales could bode well for Biogen's Tecfidera: Wells Fargo

|About: Novartis AG (NVS)|By:, SA News Editor

"We believe U.S. Gilenya sales offer some clues as to the evolving competitive dynamics amongst oral MS therapies," Wells Fargo's Brian Abrahams says, following Novartis' (NVS +3.4%) Q3 report, which showed U.S. Gilenya sales of $273M.

Interestingly, Abrahams notes that the drug's 7% Q/Q growth rate was lower than the 12% Q/Q rate observed from Q4 2011 through Q2 2013.

It doesn't take a leap of logic to surmise what might be going on here, although, as Abrahams says, it's impossible to know for sure: Biogen's (BIIB +3.4%) Tecfidera "could be eroding some of Gilenya's growth, though this is difficult to know for certain, as there have been several other quarters where Gilenya sequential U.S. growth was under 5%."