Biotech Values

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Copaxone: Tecfidera was cannibalizing Tysabri and Avonex as I pointed out before. After BIIB 3Q earning, Wells Fargo analyst Brian Abrahams noted:

“Interestingly, Tecfidera U.S. end-user sales outpaced
consensus by about the same degree that Avonex and
Tysabri fell short,” Abrahams wrote. “While these are not
necessarily fully connected, we do think it illustrates,
in part, a cannibalization dynamic that may not be fully
appreciated.”