FDA OKs Mylan’s generic version of Biogen MS med Tecfidera

The FDA has approved Mylan’s (MYL -0.6%) generic version of Biogen’s (BIIB -0.3%) top seller Tecfidera (dimethyl fumarate).

The agency signed off on the application after a federal judge in West Virginia invalidated a patent on the multiple sclerosis drug. Biogen intends to appeal the decision.

Tecfidera accounted for 32% of Biogen’s Q2 revenue ($1,182M/3,682M).

https://seekingalpha.com/news/3606819-fda-oks-mylans-generic-version-of-biogen-ms-med-tecfidera