Citi Updates On BIIB

Citi has issued a company update on Biogen Idec Inc BIIB and its Gilenya sales. Accrding to the report, "20,000 patients have been exposed to Gilenya, 13,000 of which on commercial drug, (11,000 US and 2,000 EU). 7,000 are in clinical trials with 2,000 patients who have been on treatment for >2 years. Total number of pts on Gilenya doubled from 6,500 in Q1. So the launch is going well based on pts numbers. We modeled ~7,300 in the U.S. and ~660 pts in Europe." Citi has a Hold Rating and a $105 Price Target. Citi closed yesterday at $103.75 a share.