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Biogen Inc. (BIIB)

  • Wed, Oct. 21, 1:22 PM
    • As if anyone following biotechs needs reminding, sellers are overwhelming the space. The iShares Nasdaq Biotechnology ETF (IBB -2.8%) is down 6% since Monday.
    • Key tickers: (BIB -6.5%)(BIS +6.3%)(VRX -38.5%)(AGN -5.9%)(BIIB -0.1%)(AMGN -1.7%)(GILD -1%)(CELG -2%)
    | Wed, Oct. 21, 1:22 PM | 66 Comments
  • Wed, Oct. 21, 9:15 AM
    | Wed, Oct. 21, 9:15 AM | 3 Comments
  • Wed, Oct. 21, 8:09 AM
    • Biogen (NASDAQ:BIIB) Q3 results ($M): Total Revenues: 2,777.9 (+10.6%); Net Product Sales: 2,391.7 (+13.0%).
    • Net Income: 965.6 (+12.7%); EPS: 4.15 (+14.6%); Non-GAAP EPS: 4.48 (+17.9%).
    • Key Product Sales: Tecfidera: 937.4 (+2.3%); Avonex: 685.1 (-7.6%); Tysabri: 497.7 (-0.7%); Plegridy: 99.7 (+999%); Eloctate: 90.6 (+319.4%).
    • 2015 Guidance: Revenue Growth: 8 - 9% from 6 - 8%; EPS: $14.65 - 14.95 from $14.25 - 14.70; Non-GAAP EPS: $16.20 - 16.50 from $15.50 - 15.95.
    • The company announces a corporate restructuring that includes the termination of certain pipeline programs, an 11% reduction in workforce and a $250M reduction in annual operating expenses. The savings will be reinvested to support commercial activities related to Tecfidera and the advancement of high potential pipeline candidates in Alzheimer's disease, multiple sclerosis (MS) and spinal muscular dystrophy. The reduction in headcount will be completed this quarter. Development programs cut include the Phase 3 program for Tecfidera in secondary progressive MS, anti-TWEAK in lupus nephritis and others in immunology and fibrosis.
    • Shares are up 6% premarket on increased volume.
    | Wed, Oct. 21, 8:09 AM | 5 Comments
  • Tue, Oct. 13, 3:49 PM
    • Getting out in front of what should be more bashing of their business models at the Democratic debate tonight, the healthcare names (XLV -1.3%) have about doubled the decline in the S&P 500. Within healthcare, it's the biotechs (IBB -3.1%) and pharmaceuticals (XPH -3.2%) leading the way south.
    • Celgene (CELG -3.3%), Biogen (BIIB -3.6%), Amgen (AMGN -3.5%), Allergan (AGN -4.1%), Mylan (MYL -3.6%)
    • The biotech heavy Russell 2000 (IWM -1.4%) is feeling the pain as well.
    | Tue, Oct. 13, 3:49 PM | 27 Comments
  • Wed, Sep. 30, 12:49 PM
    • Bruised and battered biotech investors get some welcome buying today as bargain hunters open their wallets. The iShares Nasdaq Biotech Index Fund (IBB +2%) is up nicely, albeit on average volume.
    • Key tickers: (AMGN +1.6%)(BIIB +2.5%)(GILD +1%)(CELG +0.7%)(DEPO +12.4%)(HZNP +8.6%)(NVO +0.7%)(AGN +4.9%)(VRX +6.4%)(REGN +0.9%)(TEVA +2%)(SHPG +2.6%)
    | Wed, Sep. 30, 12:49 PM | 26 Comments
  • Sun, Sep. 27, 8:59 AM
    • The $8B iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) fell 4.9% on Friday and 13% for the week - its worst weekly performance since the height of the financial panic seven years ago. Many biotech ETFs eat the same cooking - Gilead (NASDAQ:GILD), Amgen (NASDAQ:AMGN), Biogen (NASDAQ:BIIB), and Regeneron (NASDAQ:REGN) among the popular names - and FBT, XBI, and BBP fell in amounts similar to IBB.
    • The news flow was relatively quiet late in the week, but Hilary Clinton's promise Monday to clamp down on drug prices set things in negative motion for the momo sector.
    • Barron's Chris Dieterich reminds that a flood of biotech IPOs in recent years has filled the small cap universe with these highly speculative names, and biotech now makes up 7% of the iShares Russell 2000 Index (NYSEARCA:IWM). Indeed. The IWM fell 3.7% for the week, nearly tripling the decline of the S&P 500.
    | Sun, Sep. 27, 8:59 AM | 125 Comments
  • Fri, Sep. 25, 3:07 PM
    | Fri, Sep. 25, 3:07 PM | 134 Comments
  • Mon, Aug. 17, 4:33 PM
    • Major stock indexes rebounded from opening declines to finish modestly higher, after a solid housing report showed some strength on a lightly traded Monday.
    • Homebuilding stocks paced gainers, including Toll Brothers (TOL +2.3%); Ryland (RYL +2.1%); KB Home (KBH +3.1%), Lennar (LEN +2.7%) and Taylor Morrison Home (TMHC +2.9%).
    • The S&P 500 gained 0.5% to 2,102.44; for 2015, it's up 2.12%. The move up came despite a grim reading from New York manufacturing that sent bond yields lower. TLT +0.5%; TBT -0.8%.
    • Volumes overall were about 20% below recent average.
    • Sector gains were broadly distributed, with a flat energy sector as the laggard. Healthcare stocks performed well, paced by dollar volume leaders Gilead Sciences (GILD +0.7%), Johnson & Johnson (JNJ +1.1%) and Biogen (NASDAQ:BIIB) +1.1%.
    | Mon, Aug. 17, 4:33 PM | 12 Comments
  • Fri, Jul. 24, 12:45 PM
    | Fri, Jul. 24, 12:45 PM | 2 Comments
  • Fri, Jul. 24, 9:17 AM
    | Fri, Jul. 24, 9:17 AM | 1 Comment
  • Tue, Jul. 14, 1:34 PM
    • Believing upcoming data (due on July 22) on the 54-week efficacy of Biogen's (NASDAQ:BIIB) aducanumab Alzheimer's drug "will show a strong trend or reach statistical significance," BofA/Merrill's Ying Huang has upgraded to Buy. His target remains $466.
    • Ahead of Biogen's July 24 Q2 report, Huang also predicts (citing IMS script data) U.S. sales of Biogen's Tecfidera multiple sclerosis drug will beat a $727M consensus. He sees ""results from a Phase 2 study for Tysabri in acute ischemic stroke (mid 2015), Phase 2 for neublastin in neuropathic pain (mid 2015), and Phase 3 for Tysabri in SPMS (2H2015)" as additional potential catalysts.
    | Tue, Jul. 14, 1:34 PM | 10 Comments
  • Thu, Jul. 2, 7:32 AM
    • Biogen (NASDAQ:BIIB) and (NASDAQ:AGTC) enter into a collaboration and license agreement to develop gene-based therapies for multiple ophthalmic diseases. The partnership will focus on the development of a portfolio of AGTC's therapeutic programs, including a clinical stage candidate and pre-clinical stage candidate, for orphan diseases of the retina that can lead to blindness in children and adults. The deal also includes options for early stage discovery programs in two ophthalmic diseases and one non-ophthalmic disorder. Biogen will make an equity investment in AGTC and will have a license for manufacturing rights.
    • Under the terms of the agreement, Biogen will make an upfront payment of $124M to AGTC, including a $30M equity investment at $20.63 per share and certain prepaid R&D expenses. Biogen will have a license to AGTC's XLRS and XLRP programs and the option to license discovery programs for three additional indications at the time of clinical candidate selection.
    • AGTC is eligible to receive more than $1B in upfront and milestone payments, including up to ~$473M for the two lead programs, and high single-digit to mid-teen royalties on net sales. Biogen will makes payments up to ~$593M across the discovery programs including royalties on net sales in the same range.
    • AGTC CEO Sue Washer says, "We expect this collaboration to further validate our novel adeno-associated virus (AAV) gene therapy platform and support the development of new therapies that may allow for transformative treatments of these rare inherited eye diseases and other clinical indications."
    • AGTC will host a conference call this morning at 8:00 am ET to discuss the deal.
    • AGTC is up 21% premarket on increased volume.
    | Thu, Jul. 2, 7:32 AM | Comment!
  • Fri, Mar. 20, 10:37 AM
    • Biogen Idec (BIIB +6.3%) jumps of double normal volume in response to its announcement of positive interim results of a Phase 1b study evaluating BIIB037 (aducanumab) for the treatment of patients with early-stage Alzheimer's disease (AD). Treatment with aducanumab produced a dose- and time-dependent reduction of amyloid plaque in the brain, the buildup of which is believed to play a key role in the development of AD symptoms.
    • The interim analysis involved 166 patients up to Week 54 in four dosage cohorts: placebo, 1 mg/kg, 3 mg/kg and 10 mg/kg. A fifth arm, 6 mg/kg, involved 30-week data. The placebo arm was virtually unchanged at 26 and 54 weeks but there were statistically significant reductions in amyloid plaques in all dosage arms except 1 mg/kg at 26 weeks. At Week 54, greater reductions were observed in the 3 and 10 mg/kg arms (data from the 6 mg/kg arm was not available yet).
    • Biogen group SVP and Chief Medical Officer Alfred Sandrock, M.D., Ph.D., says, "This is the first time an investigational drug for [AD] has demonstrated a statistically significant reduction on amyloid plaque as well as a statistically significant slowing of clinical impairment in patients with prodromal or mild disease. Based on these results, we are advancing the aducanumab clinical program to Phase 3 with plans to initiate enrollment later this year."
    • An estimated 25M people live with AD worldwide. Drug candidates that target amyloid plaque have not been successful in clinical studies to date.
    | Fri, Mar. 20, 10:37 AM | 7 Comments
  • Fri, Mar. 20, 9:23 AM
    | Fri, Mar. 20, 9:23 AM | 2 Comments
  • Fri, Jan. 30, 9:12 AM
    | Fri, Jan. 30, 9:12 AM | 4 Comments
  • Thu, Jan. 29, 4:32 PM
    • Biogen (NASDAQ:BIIB): Q4 EPS of $4.09 beats by $0.31.
    • Revenue of $2.64B (+34.0% Y/Y) in-line.
    • Shares +7.3%.
    • Press Release
    | Thu, Jan. 29, 4:32 PM | 6 Comments
Company Description
Biogen Idec Inc, is a biopharmaceutical company. The Company discovers, develops, manufactures and markets therapies for neurological, autoimmune and hematologic disorders.
Sector: Healthcare
Industry: Biotechnology
Country: United States