Business

Biogen Idec stock falls after ratings downgrade

Weston-based Biogen Idec makes  drugs to treat neurodegenerative diseases, hemophilia, and autoimmune disorders.
Weston-based Biogen Idec makes drugs to treat neurodegenerative diseases, hemophilia, and autoimmune disorders.Suzanne Kreiter/Globe Staff

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Biogen Biogen Idec, maker of the multiple sclerosis drug Tecfidera, fell after the stock was cut to “neutral” from “buy” at Citigroup. The stock had rallied 52 percent this year through Tuesday, Bloomberg News reported. Citi’s analyst cited concerns about regulatory protections for Tecfidera in the European Union when other drug makers submit applications to make generic versions.

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