Morgan Stanley Reiterates Overweight Rating on Biogen Idec Following AlphaWise Survey

In a report published Friday, Morgan Stanley analyst Marshall Urist reiterated an Overweight rating on Biogen Idec BIIB. In the report, Urist noted, “Our AlphaWise survey of 121 neurologists in the US and Europe (performed in the month prior to Tecfidera approval) supports a strong launch, $4B+ in sales potential for Biogen's Tecfidera, and our Overweight rating. Roughly half of patients are expected to be on oral therapies within 4-6 years. This implies $4B+ in global sales assuming Tecfidera gains at least 50-60% of the oral segment, which is at the high end of long-term consensus of $3.4-4B. Of note, ABCR share declines from ~80% to ~30% while the high-efficacy segment gains 15% share over this period.” Biogen Idec closed on Thursday at $217.30.