March 23, 2004
Boston Business Journal
Cambridge's Biogen Idec and Elan Corporation PLC of Dublin, Ireland, will file for European approval by early summer to use their jointly developed Antegren drug to treat multiple sclerosis.
The company announced the news Tuesday, saying the decision was based on data from 12 months of testing from ongoing Phase III trials in MS patients.
Both firms announced in February that they are filing an FDA application to use the drug to treat rheumatoid arthritis and will launch Phase II clinical trials for the new use later this year.
Antegren is also in Phase III clinical trials to treat Crohn's disease, but data last July showed the drug didn't show a significant improvement over a placebo. But Biogen Idec and Elan both said they would continue to test it for the gastrointestinal inflammatory disease.
Biogen Idec stock ended trading at $52.73 early Wednesday, up 41 cents.
Elan stock closed sharply higher in early U.S. trading, up $1.30 to $19.70.
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