Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of biotech giant Biogen Idec
So what: In a clinical trial, BG-12 was shown to be highly effective for the very first time, which certainly boosts Biogen's position in the attractive, yet increasingly competitive, market for oral MS drugs. In fact, based on the initial data, BG-12 appears to be more effective than Teva Pharmaceutical's
Now what: Don't let today's big rally keep you from looking into the stock. Lost in the BG-12 hubbub were Biogen's first-quarter profit growth of 35%, which easily topped Wall Street estimates, and the reaffirmation of its strong full-year outlook. When you add BG-12's blockbuster potential to an already solidly performing multiple sclerosis portfolio, Biogen seems like a relatively solid biotech bet.
Interested in more info on Biogen? Add it to your watchlist.