J.P. Morgan Reiterates Neutral On Biogen Idec

In a note out today, J.P. Morgan reiterated a neutral rating on biotech firm Biogen Idex (Nasdaq: BIIB), saying there are hurdles for biosimilars to climb in the U.S.

“Pathway for biosimilars is not yet established in the US; however, guidance could come any day now. Based on an FDA public hearing in late 2010, we would expect the requirement of clinical trials and robust pharmacovigilance programs for biosimilars. Furthermore, for an "interchangeability claim," we believe the hurdle will be much higher,” J.P. Morgan said in the note.