Revenue has been driven by the company's multiple sclerosis drug, Avonex. Biogen also sells the non-Hodgkin's lymphoma and rheumatoid arthritis drug Rituxan in collaboration with Genentech, which is now part of Roche.
What should you expect?
”I think if there’s another biotech name that gets taken over it’s this one,” says Cowen & Co. biotech analyst Eric Schmidt. In fact, Schmidt is bullish on the stock but not just for M&A. “I think it’s a buy on fundamentals.”
That's somewhat unusual for a biotech. Typically they're a takeover play. But Schmidt goes on to explain that “on a fundamental basis the company is probably worth $65." Right now it's at $51. "And if takeover talk is real then there should be a premium to that $65.”
Icahn is also attempting to shake things up at this firm, and recently called for the resignation of its CEO Joseph Cook saying he has overseen the destruction of shareholder value through poor strategic decisions.
In a letter to Cook, Icahn said, "like an "imperial" chairman you have taken steps to entrench yourself that we believe to be unconscionable."
Amylin makes the popular diabetes drug Byetta in partnership with Eli Lilly.
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Trader disclosure: On Apr. 15th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (WFC), (AAPL), (WMT), (GS), (GE), (SDS), (GCI); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU) ; Finerman Owns (BAC) PreferredFinerman's Firm Owns (CTX), (MSFT), (RIG), ; (PBR), (UNH); Finerman's Firm Owns (BAC) Preferred; (WFC) Preferred; Finerman's Firm Is Short (BAC), (WFC), (MDY), (SPY), (USO); Najarian Owns (BX) Call Spread; Najarian Owns (C) Call Spread; Najarian owns (GS) Calls; Najarian Owns (INTC) Calls; Najarian Owns (JPM) Call Spread; Najarian Owns (PALM); Najarian Owns (RIO) Calls; Najarian owns (VAR) Call Spread; Najarian Owns (XHB) Call Spread