Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Biogen Idec Inc. (BIIB): This Biotechnology Stock Is On The Roll

Biogen Idec Inc. (NASDAQ:BIIB) is in the news again; on July 4, 2013 the company presented new data in support of clinical and safety profile for ELOCTATE, its candidate for hemophilia A that it is developing in partnership with Swedish Orphan Biovitrum AB. Earlier, in May this year, the FDA had accepted the company’s Biologics License Application (BLA) for the marketing approval of ELOCTATE. Biogen now has product candidates for both hemophilia A and B. Given its long list of major marketed drugs, I am bullish on the stock as of now.

Biogen Idec Inc (NASDAQ:BIIB)

Hemophilia A treatment angle

Hemophilia A is a rare, inherited blood disorder in which the ability of the patient’s blood to clot is severely reduced. It is caused by a congenital deficiency or absence of Factor VIII, which is required for blood clotting. Patients with hemophilia A need to be given Factor VIII injections for restoring the process of coagulation in order to prevent frequent bleeds, which among other things may lead to life-threatening hemorrhages.

About ELOCTATE for Hemophilia A

ELOCTATE, a recombinant Factor VIII Fc fusion protein, belongs to a new class of long-lasting clotting factor therapies that Biogen Idec Inc. (NASDAQ:BIIB) is developing with its proprietary monomeric Fc fusion technology, which delays the destruction of the factor and cycles it back into the bloodstream.

New data presented this month at the XXIV International Society on Thrombosis and Haemostasis (ISTH) Congress in Amsterdam, showcases ELOCTATE’s potential of reducing the number of injections required by hemophilia A patients and efficacy in controlling bleeding and treating episodes of acute bleeding.

About ALPROLIX for Hemophilia B

A day earlier, the company had presented new data for ALPROLIX that supported its safety, efficacy and pharmacokinetic profile. ALPROLIX, also being developed in collaboration with Swedish Orphan Biovitrum, is a recombinant factor IX Fc (rFIXFc) fusion protein, Biogen’s candidate for treatment of hemophilia B. As per the new data released by the company, one injection of ALPROLIX helped control more than 90% of bleeds. Earlier Phase III results had shown that ALPROLIX could effectively control and prevent bleeding and perioperative management.

In a pharmacokinetic analysis it was found that ALPROLIX had more than double the longevity of Pfizer Inc. (NYSE:PFE)’s BeneFIX, a recombinant factor IX (or Christmas factor) also used to treat Hemophilia B. Global sales of BeneFIX have grown at the rate of nearly 12% and reached $775 million in 2012.

Both ALPROLIX and ELOCTATE came to Biogen Idec Inc. (NASDAQ:BIIB) with the acquisition of Syntonix Pharmaceuticals in January 2007.

About Biogen Idec

Established in 1978, Biogen Idec is among the world’s oldest independent biotechnology companies. The company focuses on neurodegenerative and autoimmune disorders and hemophilia. Its portfolio of ten approved drugs include four for treatment of various forms of multiple sclerosis, including TECFIDERA (dimethyl fumarate), which was successfully launched this year in the U.S. Analysts expect 2013 sales of TECFIDERA to be around $422 million in 2013.

Biogen Idec Inc. (NASDAQ:BIIB)’s annual revenues for 2012 were $5.52 billion, an increase of over 8% from prior year. The company reports its second quarter 2013 financial figures on July 25, 2013. Analysts expect the company to report Q2 2013 EPS at $1.91 against $1.82 reported for the same quarter prior year. For the full year the street expectation is $7.90 per share against the $6.54 per share reported for FY 2012.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.