Biogen ‘welcomes’ EC decision to revoke CMAs for generic versions of Tecfidera

Biogen Inc.
BIIB,
-0.09%
said Tuesday that the European Commission has revoked the centralized marketing authorizations for generic versions of the biotechnology company’s multiple sclerosis treatment Tecfidera, held by Teva Pharmaceutical Industries Ltd.
TEVA,
+0.30%,
Mylan, Accord, Polpharma and Neuraxpharm. Biogen said the EC’s decision affirmed that it is entitled to marketing protection for Tecfidera until Feb. 3, 2025. “Biogen welcomes the actions of the European Commission, which confirm the laws governing data exclusivity and marketing protection,” Biogen said in a statement. “Those laws are essential to protecting innovation.” Biogen’s stock, which was virtually inactive in the premarket, has lost 9.6% year to date, while the iShares Biotechnology ETF
IBB,
+0.74%
has slipped 0.4% and the S&P 500
SPX,
+0.17%
has rallied 23.5%.