Business

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.

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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.”

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