Tecfidera tremors

Buysiders said investors overreacted when they shaved as much as $8.5 billion off the market cap of Biogen Idec Inc. (NASDAQ:BIIB) on Wednesday on 3Q14 sales of Tecfidera dimethyl fumarate that missed consensus estimates and the death from pneumonia of a patient who developed progressive multifocal leukoencephalopathy (PML) while taking the multiple sclerosis drug.

Biogen's 3Q14 revenues and non-GAAP EPS beat the Street. But worldwide Tecfidera revenues of $787 million missed consensus estimates of about $800 million (see "EPS Watch," page 18)...