Shares of Biogen (BIIB) were higher Tuesday after the U.S. Food and Drug Administration approved the biotech company's treatment for spinal muscular atrophy late Friday. Sinraza, which was developed by Ionis Pharmaceuticals (IONS) and is licensed by Biogen, is the first drug approved by the FDA to treat children and adults for the rare and deadly disease that impairs movement. During testing, Biogen said that 40% of infant patients saw improvement in their motor responses. The company anticipates the product will be made available for shipment to U.S. health care providers by the end of the week.
More from Video
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Breaking down an approach to the long side of this biotech stock.
AMSC CEO discusses that and China challenges.
One of pharma's biggest CEO's talks M&A action on the exchange.