AllAnalyst Report
logoMorningstarOctober 21, 2020

Biogen Inc.: Lowering Our Biogen Fair Value Estimate to $354 Following MS Disappointments

Symbols
BIIB
Sector(s)
Healthcare
Rating
Premium
Current Price
$243.78
Fair Value
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Economic Moat
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Stewardship
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Summary

Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva are marketed via a collaboration with Roche. Biogen also markets novel MS drugs Plegridy, Tysabri, Tecfidera, and Vumerity. In Japan, Biogen's MS portfolio is co-promoted by Eisai. Hemophilia therapies Eloctate and Alprolix (partnered with SOBI) were spun off as part of Bioverativ in 2017. Biogen has several drug candidates in phase 3 trials in neurology and neurodegenerative diseases and has launched Spinraza with partner Ionis.

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