Why Biogen Shares Fell 12.9% in June
Biogen (NASDAQ: BIIB) shares slid 12.9% in June, according to data provided by S&P Global Market Intelligence, as the company lost a patent ruling on its blockbuster multiple sclerosis (MS) drug.
In a challenge involving rival Mylan, a federal court in West Virginia invalidated Biogen's Tecfidera patent. The decision clears the way for rival Mylan to bring a generic competitor to market. Biogen plans to appeal, Fierce Pharma reported, citing a statement from the company.
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Source Fool.com