James D. Hamel, Managing Director of Artisan Partners, anticipates up to $5 billion in sales for Biogen Idec Inc’s (BIIB) new MS drug Tecfidera, in addition to other opportunities in its pipeline.
“We’re very excited about a new drug from Biogen recently approved and now in commercialization called Tecfidera…it could do in excess of $1 billion in sales in its first year of commercialization, perhaps on its way to $5 billion,” Hamel said.
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Hamel sees additional opportunities in Biogen’s pipeline with approximately six drugs that are in the testing process, particularly one that would address Alzheimer’s. Thus Biogen is a franchise with the potential to become much larger in the future, Hamel says.
“There is a drug in the pipeline that would address Alzheimer’s that we haven’t placed any value on yet. But if Biogen were successful in commercializing it in the future, it could be a $7 billion, $8 billion, $9 billion, $10 billion drug,” Hamel said. “Biogen is a strong franchise, still reasonably valued in our opinion, with a great pipeline.”
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