Biogen Idec (Nasdaq: BIIB) won't announce its financial results for the three months that ended in September until Oct. 28, but already, analysts are upping their sales estimates for the drug company’s newest drug to treat multiple sclerosis.
A research note put out by analyst Marko Kozul of Leerink Swann on Monday upped his third quarter estimate of Tecfidera revenues by 33 percent to $220 million, and fourth-quarter estimate to $314 million, a 31 percent increase from his previous estimate. For the full year since the March 27 launch of the drug, Leerink Swann is now predicting the drug will bring in $726 million to the Weston-based biotech in its first six months on the market.
Kozul said the increased estimates were based on analysis of IMS data between the second and third quarter, as well as reimbursement
and discontinuation feedback.
He also said he is expecting a launch soon of Tecfidera - the company’s first oral drug to treat MS - in Europe, which was delayed earlier this year as Biogen pushes to get a longer patent exclusivity. In May, when the delay was revealed in a federal filing, the company said it plans to launch before then end of the year.
