BIIB - Embedded Expectations Analysis - 2018 01 03
ï€ Biogen Inc. (BIIB:USA) currently trades near recent averages relative to UAFRS-based (Uniform) Earnings, with a 14.9x Uniform P/E. At these levels, markets have bearish expectations for the firm, while management has concerns about market share and competitionï€ Specifically, management appears concerned about the sustainability of TECFIDERA market share growth in Japan, and the impact of increasing competition in the MS space from Roche's OCREVUS
Biogen is a biopharmaceutical company focused on discovering, developing and delivering therapies for people living with neurological and neurodegenerative diseases as well as related therapeutic adjacencies. The company's main growth areas include multiple sclerosis (MS) and neuroimmunology; Alzheimer's disease and dementia; neuromuscular disorders, including spinal muscular atrophy (SMA) and amyotrophic lateral sclerosis; movement disorders, including Parkinson's disease; and ophthalmology. The company's marketed products include TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, VUMERITY and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA and FUMADERM for the treatment of severe plaque psoriasis.
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