Biogen Idec (NASDAQ:BIIB) is absolutely humiliating Wall Street analysts with truly impressive second quarter results.
The big biotech saw monumental gains as revenue soared 40% and adjusted earnings grew 52% year over year. Importantly, this isn't a one time bump, the company's new earnings guidance is a full 14% higher for the year. The star of the show is oral mutiple sclerosis drug Tecfidera which saw sales more than triple to $700 million.
In this video Motley Fool health care analysts David Williamson and Michael Douglass, discuss what powered Biogen's amazing quarter, give key takeaways, and explain why they are so excited about the stock.
David Williamson has no position in any stocks mentioned. Michael Douglass has no position in any stocks mentioned. The Motley Fool has 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.