Biogen (NASDAQ: BIIB) is a biotech Goliath that is best known for its dominant leadership in the treatment of multiple sclerosis. The company's top-selling MS drugs rack up sales of $7.9 billion per year, which makes it the market share leader in the $17 billion market for MS therapies. Although Biogen's MS franchise isn't likely to lose its luster anytime soon, a new drug in development at Receptos (NASDAQ: RCPT) could eventually pose a threat, so let's take a closer look. A huge market Spending on MS medicine per patient is estimated to total $52.36 per year, and that means MS is the second most costly specialty indication behind inflammatory conditions, such as rheumatoid arthritis. Spending on MS therapy is high in part because of the large number of people that are diagnosed with the disease, but also because the cost of MS medications can run into the tens of thousands of dollars per year. Globally, roughly 2.5 million people have MS, including more than 400,000 people in America and the average cost per MS prescription has been estimated to be $4,510 in 2014, which is up 9.2% from 2013. Over the past decade, one of the globe's top-selling therapies … Continue reading
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