Biogen Idec Inc's says its experimental multiple sclerosis drug BG-12 met the main goal of a closely watched clinical trial.
The Weston, Massachusetts-based biotechnology company said that a late-stage trial known as CONFIRM showed that BG-12, when given twice a day, cut the annualized relapse rate in patients with multiple sclerosis by 44 percent at two years versus placebo, and by 51 percent when given three times a day.
Investors had been waiting to see if the results would be comparable to an earlier trial known as DEFINE, which posted unexpectedly strong results showing BG-12 cut the annualized relapse rate by 53 percent when given twice a day. The results of the two trials were sufficiently similar to send the stock soaring.
If approved, BG-12 could significantly strengthen Biogen's position in the increasingly competitive market for multiple sclerosis drugs. It already sells Avonex, which is injected, and Tysabri, which is infused. BG-12 is a pill that would compete with Gilenya, a recently launched pill made by Novartis AG.... Read More - http://www.msrc.co.uk/index.cfm/fuseact ... ageid/1679