) shares were up slightly (0.62%) on the FDA approval of multiple
sclerosis (MS) product, Plegridy (peginterferon beta-1a). The FDA
approved Plegridy for the treatment of people with relapsing forms
of multiple sclerosis (RMS).
Plegridy Pen, a ready-to-use autoinjector, or a prefilled
syringe can be used to administer Plegridy subcutaneously.
Plegridy's less frequent dosing schedule (once every two weeks)
could help it gain share from other beta interferon treatments that
are currently available.
Meanwhile, data on Plegridy showed that it significantly reduced
annualized relapse rate at one year by 36% compared to placebo. The
risk of 12-week confirmed disability progression was down by 38% in
patients on Plegridy compared to placebo. Plegridy also
significantly reduced the number of new gadolinium-enhancing
lesions (by 86%) and reduced new or newly enlarging T2-hyperintense
lesions (67%) compared to placebo
With Plegridy's approval, Biogen has strengthened its MS
portfolio further. Biogen's MS portfolio consists of drugs like
Avonex, Tysabri and Tecfidera.
Tecfidera's performance has been impressive since launch and it
holds a leading position in the oral MS market and could very soon
be the leading MS treatment in the U.S. We expect the drug to do
well in the EU also where it was launched in Feb 2014.
Biogen has another MS candidate in its pipeline - daclizumab.
Biogen and partner AbbVie (
) reported positive top-line results on daclizumab and are looking
to file for approval.
Biogen is a Zacks Rank #3 (Hold) stock. Some better-ranked
stocks in the biotech sector include Gilead Sciences Inc. (
) and Celgene Corporation (
). While Gilead is a Zacks Rank #1 (Strong Buy) stock, Celgene is a
Zacks Rank #2 (Buy) stock.
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
GILEAD SCIENCES (GILD): Free Stock Analysis
CELGENE CORP (CELG): Free Stock Analysis Report
BIOGEN IDEC INC (BIIB): Free Stock Analysis
ABBVIE INC (ABBV): Free Stock Analysis Report
To read this article on Zacks.com click here.