Biogen's (NASDAQ:BIIB) 48% return over the last 12 months can largely be chalked up to investor optimism surrounding its oral multiple sclerosis drug Tecfidera (formerly referred to as BG-12). Today, the company happily announced that the EU's CHMP recommended approval for the drug's use in Europe. With an FDA decision on this same drug just around the corner, could Tecfidera soon be available to patients on both sides of the Atlantic?

In the following video, Motley Fool health-care analyst Max Macaluso discusses what this decision means for Biogen, and how this drug might compete with the current market leaders in the multiple sclerosis space.