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With Tecfidera, Biogen Idec Delivers Best MS Product Launch Yet

 
• By Stacy Lawrence

Biogen Idec blew past Wall Street estimates in its first quarter of revenue for its new, oral multiple sclerosis drug. But the biotech attributed much of the unexpected upside to quick conversions from another of its MS products, Tysabri.

The launch trajectory for Tecfidera (dimethyl fumarate) is the best of any multiple sclerosis treatment to date, Biogen Inc. claimed on its second quarter earnings call. That's despite Tecfidera being the third oral entrant into an already crowded MS market. The higher-than-expected revenues for Tecfidera helped Biogen solidly beat the Street's second quarter estimates and raise its 2013 guidance.

Biogen reported $192 million in U.S. Tecfidera revenues in the second quarter, well above consensus estimates of about $69 million...

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