Biogen falls on Tecfidera miss

Biogen Idec Inc. (NASDAQ:BIIB) fell $17.70 (5%) to $309.07 on Wednesday after reporting that Tecfidera dimethyl fumarate revenues were $787 million in 3Q14, short of the $800 million consensus estimate.

U.S. sales were $638 million in 3Q14, up 45% from $284 million in 3Q13. Ex-U.S. sales were $149 million in 3Q14, compared to $2.4 million in 3Q13. The company launched the multiple sclerosis drug in the U.S. in April 2013, and in Germany in 1Q14 after the European Commission approved the drug in February. ...