Biogen Idec (BIIB), a maker of specialized treatments for neurological diseases like multiple sclerosis, benefited from two positive developments in its drug pipeline this year.
In April, the company announced positive results from a Phase 3 clinical trial for a new MS treatment called BG-12. Phase 3 trials are often the last step in a drug's development before it heads to market.
Later that month, the Food and Drug Administration approved the drug Rituxan, which Biogen co-developed with Roche's (RHBBY) Genentech, for use in treating two extremely rare diseases -- Wegener's Granulomatosis and Microscopic Polyangiitis.The combination of those two events sent shares of Biogen up more than 30% in April alone.
The market has had its struggles in the first half of the year, but these 10 stocks are really making a stink. From RadioShack to AIG, here are the biggest losers so far in 2011. More
|Latin America: China's power play right under the U.S.|
|Japan stocks fall nearly 5% as global rout continues|
|Is India primed for an economic revolution?|
|Japan's paternity leave lawmaker to resign over sex scandal|
|Oil prices crash below $27 a barrel|