Hot Biotech Stocks To Buy For 2016

Hot Biotech Stocks To Buy For 2016: Biogen Idec Inc(BIIB)

Biogen Idec Inc. discovers, develops, manufactures, and markets therapies for the treatment of neurodegenerative diseases, hemophilia, and autoimmune disorders in the United States and internationally. Its marketed products include the AVONEX for the treatment of relapsing multiple sclerosis (MS); RITUXAN for treating relapsed or refractory, CD20-positive, and B-cell Non-Hodgkin?s lymphoma (NHL); TYSABRI to treat relapsing MS; FUMADERM for the treatment of severe plaque psoriasis in adult patients; and FAMPYRA, an oral compound for the improvement of walking in adult patients with MS with walking disability. Biogen Idec Inc.?s products under Phase III consist of PEGylated interferon beta-1a designed to prolong the effects and reduce the dosing frequency of interferon beta-1a; BG-12 for the treatment of MS; Daclizumab, a monoclonal antibody in relapsing MS; Long-lasting factor IX and VIII fusion protein for the treatment of hemophilia B; GA101, a monoclonal antibody for t h e treatment of chronic lymphocytic leukemia and NHL; and Dexpramipexole, an orally administered small molecule for the treatment of amyotrophic lateral sclerosis. The company?s Phase I clinical trial products include Anti-LINGO for use in multiple sclerosis, Neublastin for use in neuropathic pain, CD40L for use in systemic lupus erythematosus, ANTI-TWAEK humanized monoclonal antibody for TWEAK, and BIIB037 for use in Alzheimer's disease; and Phase II clinical trial product comprises OCRELIZUMAB, a humanized monoclonal antibody for treating CD20. It has collaboration agreements with Genentech, Inc.; Elan Pharma International, Ltd; Acorda Therapeutics, Inc.; Portola Pharmaceuticals, Inc.; Swedish Orphan Biovitrum AB; Abbott Biotherapeutics Corp; and Vernalis plc. The company was formerly known as IDEC Pharmaceuticals Corporation and changed its name to Biogen Idec Inc. in November 2003.! Biogen Idec Inc. was founded in 1985 and is headquartered in Weston, Massachusetts.

Advisors' Opinion:

• [By Cheryl Swanson]

  On Thursday, Biogen Idec  (NASDAQ: BIIB  ) reported "positive" trial results for what is potentially the company's most important pipeline candidate, known as anti-Lingo-1, or simply "Lingo." 

• [By Ben Levisohn]

  Biogen Idec (BIIB) today announced “positive top-line results” from their Phase-2 trial for a drug that could repair nerve damage in the eye. Analysts, however, have been far less enthused by Biogen’s results.

  Bloomberg News

  Piper Jaffray’s Joshua Schimmer and team explain why Biogen’s “‘success’ is hardly that” but don’t think the news is a big deal either way:

  This morning Biogen Idec announced ‘positive’ results from the P2 study of its anti-Lingo antibody for optic neuritis. It’s hard for us to consider a per-protocol statistically significant change in electrical conduction of visual stimuli without any other obvious benefit or even a statistically significant improvement when measured by ITT, but we have always viewed this program as highly speculative, unlikely to succeed and not a part of our investment hypothesis. We will see if the program delivers clinical benefit in the MS setting in 2016 and do not include it in our model or valuation. Biogen Idec is still our top large cap pick though on the basis of its attractive growth, reasonable multiple and Alzheimer’s and other programs. Reiterate Overweight.

  Shares of Biogen Idec have dropped 1.6% to $347.47.

• [By Ben Levisohn]

  Given the market’s reaction, that sounds about right. Shares of Celgene have gained 1.1% to $117.74 at 2:28 p.m. today, just about in line with the gains in other big biotech companies. Regeneron Pharmaceuticals (REGN) has risen 1% to $428.20, Amgen (AMGN) has advanced 1.1% to $170.34 ! and Bioge! n Idec (BIIB) is up 1.5% at $359.11.

• [By Ben Levisohn]

  3Q R&D expenses included $34m (29c EPS hit) for the FDA priority review voucher related to Alirocumab. This was well-telegraphed by the company and was reflected in expectations. However, unlike Gilead Sciences and Biogen Idec (BIIB), Regeneron did NOT include its Branded Prescription Drug (BPD) Fee ($41m) in non-GAAP numbers. We calculate the reported non-GAAP EPS would be $2.17 if included. We spoke to Regeneron, who pointed out that the majority of biopharma companies excluded the fee.

source from Top Stocks For 2015:http://www.topstocksblog.com/hot-biotech-stocks-to-buy-for-2016.html