|
Biogen has recently made the transition from a licensing company to a company that manufacturers and markets its own products. In May the FDA approved Avonex for treatment of multiple sclerosis. Already, several thousand patients have made the transition from Chiron's Betaseron to Avonex because of its proven effectiveness and its drastic reduction in side-effects. The company looks to be on track to have over 30,000 patients by the end of the year and is currently adding over 1,000 patients per month. At $8,700/year/patient, Avonex looks to be a blockbuster. The company expects to receive approval from European countries beginning in Q1, so that the rate of rapid revenue growth should continue unabated for the next 1-1/2 years at least, barring unforseen circumstances. The company currently has little competition in this market: Teva and Serono have offerings that either have poorer profiles or infringe on strong Biogen patents. Opinions, information and questions are welcome. |
