July 25 Biogen Idec Inc on Thursday reported sales of its new multiple sclerosis drug Tecfidera that blew away initial Wall Street estimates, confirming an extremely strong launch for a medicine expected to dominate the market for oral treatments.
In its first quarter on the market, Tecfidera had sales of $192 million, including inventory stocking. Biogen said about $110 million of the total represented underlying patient demand. Analysts looked for about $66 million for the quarter.
Tecfidera is widely considered to be Biogen's most important future growth driver, with analysts targeting eventual peak sales in excess of $3 billion. (Reporting by Bill Berkrot; Editing by Jeffrey Benkoe)