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Print Edition StoriesFriday, October 23, 2009
Biogen shares tumble on more MS drug-linked infections
By Julie M. Donnelly
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Biogen Idec’s shares are down over five percent today, following reports that the number of cases of a rare but often deadly brain infection in patients taking multiple sclerosis drug Tysabri is higher than expected.
European regulators are reporting 23 cases of progressive multifocal leukoencephalopathy (PML), more than double the 11 cases that Biogen reported in July.
In September, the U.S. Food and Drug Administration said 13 cases of PML had been reported.
The majority of the cases have been discovered outside of the U.S.
Tysabri was intended to be an improved treatment for MS that could take the place of blockbuster MS treatment Avonex, Biogen’s top-selling drug. But the drug has had trouble with PML since first coming on the market in 2004. It was temporarily withdrawn from the market in 2005 after being linked with PML and was reintroduced in July 2006 with stricter safety warnings.
European regulators say they have begun a safety review of the drug.
Biogen’s (Nasdaq:BIIB) shares were trading at $44.73 in afternoon trading Friday, down from $47.23 at the previous close.
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