Business
    Next Score View the next score

    Mass. Movers

    Traders cheer Biogen Idec’s MS drug sales

    Last week, Standard & Poor’s raised its rating to “A-” from “BBB+” on Weston-based Biogen Idec.
    Globe File Photo/2013
    Last week, Standard & Poor’s raised its rating to “A-” from “BBB+” on Weston-based Biogen Idec.

    MarketWatch.com said sales of Biogen Idec Inc.’s newest multiple sclerosis treatment were “causing murmurs on Wall Street and lifting shares of the company” as traders noted a strong first two weeks of sales for Tecfidera. Analyst Michael Yee of RBC Capital Markets said second-week sales were 42 times first-week sales, far outpacing those for competing treatments. He cited “very high awareness with both physicians and patients” and a “strong combination of efficacy and safety.”

    Advertisement