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Why Biogen's Stock Is Trading Lower Today

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Why Biogen's Stock Is Trading Lower Today

Biogen Inc (NASDAQ: BIIB) shares are trading lower on Thursday following reports the company has lost a patent dispute against Mylan for Tecfidera.

Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva are marketed via a collaboration with Roche. 

Biogen shares were trading down 7.48% at $260.42 on Thursday during the time of publication. The stock has a 52-week high of $374.99 and a 52-week low of $215.78.

Related Links:

Biogen Rallies On Tecfidera Patent Decision

Biogen Reports Q2 Earnings Beat, Raises Guidance

 

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