Disappointment struck Biogen (NASDAQ:BIIB) -- one of the best performing big biotech stocks of 2012 -- yesterday after the company announced that its experimental ALS drug failed its phase 3 clinical trial. This is sad news for ALS patients, but multiple sclerosis patients and Biogen investors are now looking toward the potential approval from the Food and Drug Administration for the company's drug BG-12. In this video, our analysts discuss the recent news and also give an overview of Biogen's potential position in the MS drug market.

Brenton FlynnMax Macaluso, Ph.D., and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.