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What to Expect from Biogen in 2017

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Part 2
What to Expect from Biogen in 2017 PART 2 OF 7

How Biogen’s Tecfidera Is Expected to Perform in 2017

Tecfidera revenue trends

In 2016, Biogen’s (BIIB) Tecfidera reported revenues of ~$4.0 billion, which reflected ~9% growth year-over-year (or YoY). In 1Q17, Tecfidera generated revenues of around $958 million, a 1% growth year-over-year (or YoY) and a 4% decline on a quarter-over-quarter basis. The US accounted for ~78% of the drug’s revenue share in 1Q17. The sale of the drug in the US, however, was lower by ~$50 million in 1Q17 on a YoY basis.

In 1Q17, the drug was launched in Japan, which may boost the drug’s revenue growth in 2017. Biogen estimated that foreign exchange and the hedge impact primarily led to the weakening of Tecfidera’s sales in 1Q17 compared to 1Q16. In the international market, the drug reported revenues of $207 million, which is ~2% growth on a quarter-over-quarter basis. The growth in Tecfidera sales may propel the share prices of the SPDR S&P 500 Trust ETF (SPY). Biogen holds ~0.29% of SPY’s total portfolio holdings.

How Biogen’s Tecfidera Is Expected to Perform in 2017

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The above graph represents the revenue trajectory of Tecfidera from 1Q16 to 1Q17. To know more about historical statistics for the drug sales, please read, Tecfidera Continued to Lead in the Oral Multiple Sclerosis Market.

About Tecfidera

Tecfidera (dimethyl fumarate) is used for the treatment of patients with relapsing forms of multiple sclerosis (or MS). Currently, the drug is the most prescribed oral treatment for MS. In April 2017, Biogen announced the release of new real-world data of Tecfidera. A real-world study was conducted utilizing US insurance claim data. The study compared the time of the first relapse among MS patients initiating therapy with Tecfidera versus fingolimod or teriflunomide. Tecfidera demonstrated a significant reduction in relapse of around 30% compared to teriflunomide.

Biogen’s tecfidera faces stiff competition from Sanofi’s (SNY) Aubagio, Teva Pharmaceuticals’ (TEVA) Copaxone, and Novartis’s (NVS) Glatopa.

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