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Shares Of Biogen Idec, Inc. (Massachusetts) (BIIB) Slip As Tecfidera Hits Second Hurdle In Germany



8/4/2014 6:31:47 AM

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Shares of Biogen Idec dropped slightly Friday after the biopharma giant hit a second hurdle in Europe over its multiple sclerosis drug Tecfidera, a product Biogen hopes to soon produce in the Triangle.

German regulators determined that Tecfidera provided “no additional benefit” over existing treatments, something that could deny Biogen Idec (Nasdaq: BIIB) premium pricing, according to FiercePharma, which tracks the biopharmaceutical industry.

While the decision isn’t final, it is the second time Biogen faced this kind of response in Europe after regulators in the United Kingdom reached a similar conclusion.

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