I'm examining BIIB's stock chart and considering what's on the agenda, you can see BIIB's top in the a couple weeks ago at $262 per share back on October 28th. It's since retraced back to the 230 near term support. I believe the retracment from the 262 level to 230 is discounting the possibility that BIIB won't get exclusivity from the EU for its new drug Tecfidera. If BIIB doesn't get exclusivity in the EU I believe BIIB could retrace to 210. But if Tecfidera gets exclusivity from the EU, BiIB will be looking for a $300 test. Seems BIIB has a blockbuster on their hands according to some neurologists I know. I'm hearing results they're getting from MS patients are showing the rate of "flair ups" is cut by over 50%. Statistically that's huge. Better yet the drug is oral, and Biogen Idec's pipeline is deep. Right now I count 10 drugs with FDA approval, 4 drugs that have completed stage 3 trials and have filed for FDA approval, 3 drugs in stage 3 trials, 6 drugs in stage 2 trials and 2 drugs now in stage 1 trials. IMO BIIB is a solid hold long term because of its large portfolio and large pipeline of new therapies.
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