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
|Adult dating site hack exposes sexual secrets|
|Couple leaves $850,000 estate to U.S. government|
|Your clothes are killing us|
|'19 Kids and Counting' episodes yanked over scandal|
|China's richest man lost $15 billion in one hour|