Biogen reports 9th case of PML in Tysabri patients
Fri Jun 19, 2009 7:24pm EDT
LOS ANGELES, June 19 (Reuters) - A ninth patient taking Biogen Idec Inc's (BIIB.O: Quote, Profile, Research, Stock Buzz) multiple sclerosis drug Tysabri has developed a potentially deadly brain infection since the drug was reintroduced onto the market in July 2006.
The Cambridge, Massachusetts-based biotech company announced the news late on Friday on its website.
Biogen has said it does not plan to announce each new case of progressive multifocal leukoencephalopathy, or PML, except as a weekly update on its website.
Sales of Tysabri, Biogen's most important potential growth driver, have been curtailed by concerns over PML. The drug was temporarily withdrawn from the market in 2005 before being returned with stricter safety warnings.
Biogen has said physicians are becoming more comfortable with the risk of PML, but sales of Tysabri in the first quarter were $227 million, less than the $246 million analysts had expected.
Biogen sells Tysabri in partnership with Elan Corp Plc (ELN.I: Quote, Profile, Research, Stock Buzz) of Ireland.
Biogen's shares, which fell 32 cents to close at $51.67 on Nasdaq, were slightly higher at $51.74 after hours. (Reporting by Deena Beasley; Editing by Gary Hill)
