Biogen: 3 More Brain Infections, 1 More Death In Tysabri Users
15 Juli 2010 - 11:14PM
Dow Jones News
Biogen Idec Inc. (BIIB) disclosed three more cases of a rare
brain infection in multiple sclerosis patients on Tysabri, which it
sells with Elan Corp. (ELN), bringing the total number of cases to
58 as of July 2.
The Cambridge, Mass., biotech company reported an additional
death among patients that have developed progressive multifocal
leukoencephalopathy, or PML, bringing the total to 12.
Tysabri is considered a highly effective therapy for MS, and its
growth is important to the future of both Elan and Biogen. But its
sales have been slower than originally hoped due to concerns about
the risk of PML that led to its temporary withdrawal beginning in
2005. The infection re-emerged in mid-2008, and Biogen provides
regular updates about the number cases.
The overall global PML rate is about 0.80 per 1,000 patients,
the company said, which falls within the 1-in-1,000 rate previously
seen in clinical trials and implied on the drug's label.
Shares of Biogen closed up 46 cents to $53.43, while Elan's
American depositary shares dropped 4% to $5.08.
Of the total cases, 22 were in the U.S., 32 were in the European
Union and four were in other areas.
The number of cases is important because if the infection rate
climbs too high, sales of the drug may drop. A patient's risk of
getting PML increases with the number of monthly infusions that he
or she receives.
The most recent update translates to a rate of 1.27 cases per
1,000 for patients on the drug for a year or longer, but rises to
1.71 per 1,000 for those on the drug for two years or longer.
Looked at another way, the rate is about 1.42 cases per 1,000
patients on the drug for between two and three years. The incidence
is about 0.37 case per 1,000 patients in those using it for one to
two years, and it is almost nonexistent in patients using it for
less than a year.
Elan sets the drug's price, which rose 18.7% in the U.S. on June
30, marking the most aggressive move since the drug's approval in
2004. There have only been two prior price increases: 1.5% a year
ago and 8% last December. The price currently stands at $39,988 a
year in the U.S.
-By Thomas Gryta, Dow Jones Newswires; 212-416-2169;
thomas.gryta@dowjones.com
Biogen (NASDAQ:BIIB)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Biogen (NASDAQ:BIIB)
Historical Stock Chart
Von Apr 2023 bis Apr 2024