Biogen Idec
(
BIIB
) recently announced the launch of Fampyra in Canada. Fampyra
gained approval in Canada in February 2012 for the symptomatic
improvement of walking ability in adult multiple sclerosis (
MS
) patients.
Biogen has a licensing deal with
Acorda Therapeutics, Inc.
(
ACOR
) for the development and commercialization of Fampyra in ex-US
markets. Biogen is currently working on launching Fampyra in
additional markets in the EU, where it gained conditional approval
in July 2011.
Fampyra, which was launched in Australia, Denmark, Germany,
Norway and the UK in 2011, posted sales of $13.6 million in 2011.
Sales should increase in 2012 as Biogen launches the product in
additional countries.
Fampyra is available in the US, under the trade name Ampyra,
where it is being marketed by Acorda. Acorda received FDA approval
in late January 2010, for the marketing of Ampyra in the US for
improving walking speed in patients suffering from multiple
sclerosis. Ampyra sales increased 58.2% to $210.5 million in 2011.
Acorda expects Ampyra sales to increase to $255 - $275 million in
2012.
Neutral on Biogen
We currently have a Neutral recommendation on Biogen. The
company is the market leader in therapies for the treatment of
multiple sclerosis. We believe Biogen will continue to retain a
leading position in the multiple sclerosis market. The company has
been working on consolidating its position in the multiple
sclerosis market and has an impressive late-stage pipeline of
multiple sclerosis drugs including BG-12 (new drug application
filed in the US in Feb 2012).
Besides BG-12, Biogen is developing other multiple sclerosis
candidates like daclizumab, in partnership with
Abbott Labs
(
ABT
), and PEGylated interferon. Biogen recently signed an exclusive,
worldwide option and collaboration agreement with privately held
MAKScientific, LLC for the development and commercialization of
drug candidates for the treatment of multiple sclerosis and other
neurodegenerative diseases.
However, Biogen's multiple sclerosis products face significant
competition from products like
Teva's
(
TEVA
) Copaxone,
Pfizer
/Serono's (
PFE
) Rebif,
Bayer's
(
BAYRY
) Betaseron and
Novartis'
(
NVS
) Gilenya. Additional competition could come in the form of
Sanofi's
(
SNY
) teriflunomide and Lemtrada.
ABBOTT LABS (
ABT
): Free Stock Analysis Report
ACORDA THERAPT (
ACOR
): Free Stock Analysis Report
BAYER A G -ADR (
BAYRY
): Free Stock Analysis Report
BIOGEN IDEC INC (
BIIB
): Free Stock Analysis Report
NOVARTIS AG-ADR (NVS): Free Stock Analysis
Report
PFIZER INC (PFE): Free Stock Analysis Report
SANOFI-AVENTIS (SNY): Free Stock Analysis
Report
TEVA PHARM ADR (TEVA): Free Stock Analysis
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