- The FDA has approved Mylan's (MYL -0.6%) generic version of Biogen's (BIIB -0.3%) top seller Tecfidera (dimethyl fumarate).
- The agency signed off on the application after a federal judge in West Virginia invalidated a patent on the multiple sclerosis drug. Biogen intends to appeal the decision.
- Tecfidera accounted for 32% of Biogen's Q2 revenue ($1,182M/3,682M).