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Biogen IDEC (NASDAQ:BIIB): Closing price $146.43
Biogen’s longer-lasting injectable multiple sclerosis drug, peginterferon beta-1a, met the goals of a late-stage evaluation by helping to reduce the risk of relapse by 36 percent when given every two weeks. further, the medication reduced patients’ danger of flare-ups by 28 percent when dosed every four weeks compared with placebo. Based on these results, Biogen will to apply this year for regulatory approval both in Europe and in the United States. Peginterferon is in the same class of drugs as is Biogen’s top seller, Avonex, which generated $2.7 billion in 2011 revenue.
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