You are considering investing in Biogen Inc (NASDAQ: BIIB). You will need to make an investment recommendation based on the market and your theoretical value of Biogen Inc International. This question is designed such that your answers in this question should build a company and industry profile of Biogen Incand help make your final recommendation. Any assumptions that you rely upon should be clearly stated in your answer.

1. Valuation multiples are often used to compare companies quickly. Identify an appropriate valuation multiple/ratio and evaluate if the company is over or under valued using relative valuation. What are the reasons you picked the multiples that you did and how did you conclude that Biogen Inc is over or under valued?
2. What considerations should you take to identify comparable peers or competitors for the valuation multiples?