Biogen Idec Rises 7% (BIIB)

Shares of biotech firm Biogen Idec BIIB have surged 7% on Monday to $78.39. The company released positive Phase III clinical data for its multiple sclerosis drug candidate BG-12. The data showed that the compound helped lower the rate of relapse in certain MS patients. Volume has been heavy, with more than 4.7 million BIIB shares trading hands compared to a 3-month daily average of 1.8 million.