Wells Fargo on Biogen (BIIB): Price Increases in MS Space Should Offer More Flexibility for BG-12

Wells Fargo maintains a 'Market Perform' on Biogen (NASDAQ: BIIB).

Analyst, Brian Abrahams, took note of Novartis' (NYSE: NVS) recent price increase for its MS drugs, Gilenya and Extavia. Now the annual WAC for Gilenya is $57.6K/year, up from $52.4K/year. However, with BIIB's BG-12 hits the market next year, it should benefit because of the planned price of approx. $48K/year...and there will still be room.

Abrahams concluded, "Pricing power clearly remains in the MS space, which is positive for BIIB's existing (Avonex, Tysabri) and future (BG12) products, although we believe high expectations for the MS portfolio, ALS data, and hemophilia program prospects are already baked into the stock's current valuation."

For an analyst ratings summary and ratings history on Biogen click here. For more ratings news on Biogen click here.

Shares of Biogen closed at $145.63 yesterday.

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