Cramer Pounds the Table on Biogen Idec (BIIB) Ahead of BG-12 Filing

FREE Breaking News Alerts from StreetInsider.com!

BIIB Hot Sheet

Rating Summary:
15 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23

Shares of Biogen Idec (Nasdaq: BIIB) are under heavy pressure Monday even amid bullish comments from Jim Cramer on Friday evening's Mad Money.

Cramer gave a nod to Biogen, calling the company a "real winner." Specifically, Cramer likes Biogen's multiple sclerosis (MS) treatments, which are one of four currently available for the disease. Though Biogen enjoys a 60 percent market share in this segment, Cramer likes what's coming next from the company.

Called BG-12, the new MS treatment is taken orally -- unlike current treatments which must be injected -- and the medicine could easily add an additional $1.5 billion to Biogen's top line by 2015. Some estimate anywhere from $2 billion all the way up to $5 billion. With Biogen already marketing its existing MS treatments to doctors, selling the BG-12 should be a breeze, Cramer noted.

Filing with the FDA for BG-12 should happen before the end of 2012.

Also in development for Biogen include treatments for Lou Gehrig's disease and hemophilia.

Cramer recommends grabbing shares now and hanging on for the ride.

Biogen shares are currently about 1.75 percent lower Monday.

Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!