Seems as though your shorts (!) are secure (!)
Biogen promotion rapped by FDA, stock edges down (BGEN, SRA)
By Ted Griffith, CBS MarketWatch.com
Last Update: 8:54 AM ET May 28, 2002
Shares of Biogen were edging down in premarket trading after the Food and Drug Administration released a letter that criticizes the biotech firm for the way it's been promoting multiple sclerosis treatment Avonex. The FDA said Biogen made misleading statements about the drug and rival treatment Rebif from Serono (SRA). Shares of Biogen (BGEN) eased 57 cents to $48.90 in recent premarket dealings. The stock had soared Friday after an FDA panel endorsed Biogen's new treatment for psoriasis.
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Biogen's Leading Multiple Sclerosis Drug May Lose Its Dominance To Ares-Serono's New TherapyNew Report from Decision Resources Sums Up the Multiple Sclerosis Drug Market
PR NEWSWIRE - May 29, 2002 08:00
WALTHAM, Mass., May 29, 2002 /PRNewswire via COMTEX/ -- Decision Resources announced today the release of its new report focusing on multiple sclerosis. Multiple sclerosis (MS) is the second most common cause (after trauma) of neurological disability in young and middle-aged adults. The report concluded that Biogen's Avonex, which has been a leading drug therapy for the disease, will see major competition from Ares-Serono's Rebif, which launched into the US market in March 2002.
(Photo: newscom.com )
"Trial results show that Ares-Serono's Rebif has greater efficacy at 24 and 48 weeks than Biogen's Avonex," said Michelle A. Grady, Analyst, Decision Resources. "Although it will find strong competition from Rebif, Avonex will still show increased sales in Europe due to the rapid growth of drug-treated MS patients in that market."
The report entitled Multiple Sclerosis provides in-depth analysis of the commercial outlook for drugs and agents in research and development to treat multiple sclerosis. A competitive overview of companies involved in this market, such as Biogen, Schering and Ares-Serono, is profiled in this study.
Disease Facts - Multiple Sclerosis
Multiple sclerosis (MS) is the second most common cause (after trauma) of neurological disability in young and middle-ages adults. MS progresses at different rates in different patients -- progression results in increasing levels of disability. Lacking a cure for the disease, physicians have long relied on disease-modifying immunosuppressant therapies. The number of prevalent cases of multiple sclerosis in the major pharmaceutical markets (United States, United Kingdom, Japan, France, Germany, Spain and Italy) totaled 590,200 in 2001. The markets for agents to treat MS totaled $2.1 billion in 2001.
About Pharmacor from Decision Resources
Pharmacor is a unique family of studies based on primary and secondary research conducted by Decision Resources on-staff experts. Each comprehensive study assesses a host of market-impacting factors and analyzes the commercial outlook for drugs in research and development. Cardium, Cognos, Immune and Inflammatory Disorders, Infectious Diseases, and Onkos concentrate on specific therapeutic areas. Mosaic covers high-interest disease states. Cardium focuses on indications and issues of interest within the cardiovascular therapeutic area; Multiple Sclerosis is a Cognos report.
About Decision Resources
Decision Resources, Inc. is a world leader in research publications, advisory services, and consulting designed to help clients shape strategy, allocate resources, and master their chosen markets. The Company has provided strategic information services for 30 years, assessing international pharmaceutical and health care industry trends. Visit Decision Resources at www.dresources.com.
All company brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
For more information, contact:
Elizabeth Marshall
Decision Resources
781-296-2563
emarshall@dresources.com
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SOURCE Decision Resources, Inc.
CONTACT: Elizabeth Marshall of Decision Resources, +1-781-296-2563, or emarshall@dresources.com /Photo: NewsCom: newscom.com AP Archive: photoarchive.ap.org PRN Photo Desk, 888-776-6555 or 212-782-2840
URL: dresources.com
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