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In a report published Monday, Morgan Stanley analyst Matthew Harrison reiterated an Overweight rating on
Biogen IdecBIIB, but removed the $395.00 price target.
In the report, Morgan Stanley noted, “Eloctate is the second product in Biogen's hemophilia franchise to be approved (Alprolix for Hemophilia B was approved on March 28). Mgt. plans a July launch (~3 months after the May Alprolix launch). Pricing has not yet been detailed, though given that the annualized Alprolix price is similar to the non-long-acting versions, we would expect similar pricing for Eloctate. The label is inline with the clinical studies, suggesting dosing every 3-5 days versus current therapies of every other day.”
Biogen Idec closed on Friday at $317.55.
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