Biogen Idec gains on Tecfidera approval

Biogen Idec Inc. (NASDAQ:BIIB) was up $9.94 to $192.62 on Thursday on the heels of FDA's approval of Tecfidera dimethyl fumarate (formerly BG-12) to treat adults with relapsing forms of multiple sclerosis on Wednesday. The stock move translates to a $2.3 billion gain in market cap for a closing valuation of $45.5 billion. Biogen Idec plans to launch the drug, which activates the NF-E2-related factor 2 (Nrf2) pathway, in the U.S. "in the coming days" (see BioCentury Extra, March 27). ...