Genentech, Biogen release Rituxan data |
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Tue, 01 May 2007 21:19
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NEW YORK (AP) - Biotechnology companies Genentech Inc. and Biogen Idec Inc. said Tuesday additional data from a midstage study of Rituxan for multiple sclerosis showed it was successful in reducing the relapse rate of the disease.In August, the companies first presented data from the Phase II clinical trial showing the drug, already approved to treat non-Hodgkin's lymphoma, met its primary endpoint in the 104-patient study.That goal was effectiveness in reducing the number of gadolinium, or inflammatory, lesions. Reducing the relapse rate was the study's secondary goal.The data being release is based on 24 weeks of treatment. The companies said they will continue to collect and analyze data through 48 weeks of treatment.The drug was developed by Biogen, but is co-marketed in the U.S. with Genentech.Shares of Genentech rose $2.10, or 2.6 percent, to $82.09 on the New York Stock Exchange in afternoon trading. The stock has traded between $75.58 and $89.73 over the last 52 weeks. Shares of Biogen rose 55 cents to $47.77 in afternoon trading on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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