Biogen Aims To Seek Approval for MS Drug in Europe and US

BiogenIn a recent report, Biogen Idec Inc has made it clear that they have achieved effective results after a late-stage clinical trial of an experimental multiple sclerosis treatment. It has been claimed that the multiple sclerosis drug, peginterferon beta-1a, was found to reduce the risk of relapse by as much as 36% provided it is given every two weeks.

It has also been added that it can reduce the risk as much as 28% if given every four weeks, thereby adding more substance to their underlining theory. With positive results in hand, there are high changes that the Massachusetts-based company would approach for regulatory approval in Europe and the U. S soon.

It has been further added that the latest trial had as much as over 1,500 patients with relapsing-remitting multiple sclerosis, involved.

"We see the drug's convenience benefit as modest and expect a diminishing injectables market in the advent of BG-12, an oral with stronger efficacy than injectables", said David Ferreiro, an analyst at Oppenheimer, while claiming that as per his estimations, Peg-Avonex, or peginterferon beta-1a, would be able to generate as much as $830 million a year.

With the news making rounds, it was seen that the shares of the company went up by 2% to $146.41 at the close of New York trading.