Biogen Gains U.S. Approval to Sell Its First Pill for MS
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Biogen Idec Inc., the fourth-largest U.S. biotechnology company by market value, rose to a record price after the drugmaker won U.S. approval for its first pill for multiple sclerosis, Tecfidera.
Biogen gained 3.5 percent to $189.09 at 9:53 a.m. New York time, after rising 3.2 percent yesterday on news the Food and Drug Administration granted the medicine marketing approval. The shares are at their highest price since the company first sold stock publicly in September 1991.