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Biotech / Medical : Biogen
BIIB 174.61-1.8%Jan 5 3:59 PM EST
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To: Icebrg who wrote (1514)2/21/2003 5:19:49 PM
From: mopgcw   of 1686
 
From Morningstar:

The delay of European marketing approval for Biogen's BGEN
quote.morningstar.com psoriasis drug
is a setback, but it's not the end of the world. On Thursday, the
biotech company announced the European regulatory agency had
requested additional information on Amevive, which could take several
years to gather. Amevive was approved in the United States in January
as the first treatment of its kind for the autoimmune disorder and a
much-needed boost for the one-drug company. The vast majority of the
drug's profits will come from the U.S. market, where pricing power is
greater, so we don't anticipate a material change in our fair value
estimate.
Jill Kiersky
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