Biogen's sales were up 9% to $1.2 billion for the quarter. It reiterated that its oral drug for MS, BG-12, met its primary and secondary endpoints in a pivotal phase III trial and gave analysts a peak at some of the data. The drug reduced relapses by 49% over two years and reduced disease progression by 38% in a study of 1200 MS patients.
Coupling BG-12's performance with sales growth in Biogen's other MS drugs Tysabri and Avonex (interferon beta 1a) resulted in investor happiness and Biogen's stock surging by nearly 22%. BG-12 looks to extend Biogen's MS franchise lead with the convenience of a pill.
Posted by Bruce Lehr April 22nd 2011.