Biogen (BIIB, Financial) together with collaborator AbbVie (ABBV, Financial) are yanking the multiple sclerosis drug Zinbryta (daclizumab) from worldwide markets after alarming reports of meningoencephalitis and inflammatory encephalitis among patients. Biogen reported the action on its website.
ZINBRYTA is currently approved for sale in North America, including Canada and the U.S., Switzerland and Australia.
Alfred Sandrock, Biogen’s E.V. president and chief medical officer, said that ZINBRYTA’s global withdrawal was “in the best interest of patients” and that “Biogen and AbbVie continue to prioritize patient safety and the care of multiple sclerosis patients worldwide.”
Biogen Inc. and AbbVie are down 1.2% pre-market on light volumes.
Year to date Biogen lost 15.7% while AbbVie gained 15.7%. AbbVie is outperforming the S&P 500 index by 15%.
Source: Yahoo Finance
Biogen has a 52-week range of $244.28 to $370.57, a price-book (P/B) ratio of 4.73 versus an industry median of 4.20 times, a price-sales (P/S) ratio of 4.90 versus an industry median of 11.11 times and a price-earnings (P/E) ratio of 23.65 versus an industry median of 28.26 times. The last share price of Biogen is $282.35.
The forward PE ratio is 11.38 versus an industry median of 22.08 times.
AbbVie has a 52-week range of $62.83 to $125.86, a price-book (P/B) ratio of 35.65 times versus an industry median of 2.79 times, a price-sales (P/S) ratio of 6.47 versus an industry median of 3 times and a price-earnings (P/E) ratio of 34.60 versus an industry median of 26.21 times.The last share price of AbbVie is $113.84.
The forward PE ratio is 15.50 versus an industry median of 15.67 times.
AbbVie pays dividend and the forward yield is 3.32% towards an industry median of 1.77%.
As of March 2, Biogen is for analysts a buy with an average target price of $380.18 per share while AbbVie has a recommendation rating of 2.4 out of 5 (between a buy and hold rating) and an average target price of $125.60 per share.
(Disclosure: I have no positions in security mentioned in this article.)
