Should You Sell Biogen Stock?
Biogen (NASDAQ: BIIB) has taken its shareholders on a roller-coaster ride over the past year or so, and more potential trouble is on the horizon for the biotech. Given that, now may be a good time for shareholders to consider jumping ship -- at least, so says Bernstein analyst Aaron Gal.
Gal believes that Biogen has a 70% chance of losing a patent lawsuit filed by Mylan (NASDAQ: MYL) over the multiple sclerosis drug Tecfidera. Tecfidera is currently Biogen's best-selling product. During the first quarter, its sales accounted for roughly $1.1 billion of its $3.5 billion in total revenue. If the patent in question is invalidated, Tecfidera would face generic competition immediately, rather than in 2028, which could take a major bite out of Biogen's finances.
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Source Fool.com
