Biogen Idec Aims At Alzheimer’s, Adds Proteostasis As Neurodegenerative Partner
This article was originally published in The Pink Sheet Daily
In a new deal with Proteostasis, Biogen Idec reaffirms its interest in establishing itself in some of the most intractable, hard-to-treat neurodegenerative diseases, such as Parkinson’s and Alzheimer’s.
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Biogen Idec’s launch of the drug continued to surpass Wall Street’s expectations, in its third quarter earnings. Its potential EU marketing of Tecfidera hangs in the balance, with news likely on Nov. 22 from CHMP. The biotech also highlighted its approval and pipeline expectations for 2014.
Biogen Idec reported steady progress in the clinic for four late-stage programs, including hemophilia. Recent bumps include a three-month delay for the MS product BG-12, but nothing that would derail its Phase III pipeline.
Irish company will get a 24% stake in the U.S. biotech as part of an R&D collaboration centered around neurodegenerative diseases.