Investors are upset. Rituxan, which is already approved to treat non-Hodgkins lymphoma and rheumatoid arthritis, failed to prompt a response in patients when compared with placebo in a late-stage, 52-week study. Not only that, the drug failed to meet any of its six secondary goals. Genentech and Biogen Idec shares dove on the disclosure.
“We are [...]

The biotech rejected Carl’s proposed directors, setting up a proxy fight over who sits on its board, The Boston Globe reports. A Biogen Idec spokeswoman tells the paper that the current board interviewed Icahn’s three nominees, but decided they were unsuitable because they were committed to his “single-minded agenda to sell the company,” which would [...]

In addition to raising venture capital and launching stock offerings, Massachusetts biotechs are increasingly turning to another source of funding to support early drug research: nonprofit foundations dedicated to fighting serious diseases, The Boston Globe writes.
For instance, the Cystic Fibrosis Foundation, has awarded more than $300 million to for-profit companies over the past decade to [...]

A lot of rain is falling on the nation’s medicine chest this morning. But the gloomy skies are no match for our sunny outlook. As always, though, there is much to do. But first, we will reach for our usual cup of stimulation. Perhaps you will do the same? Or maybe a bottle of water [...]

More problems with the multiple sclerosis med. In a letter posted on the FDA site, Elan and Biogen Idec, which co-market the drug, warned Tysabri may harm the liver within six days of the first dose.
Some patients have displayed signs that are “generally recognized as an important predictor of severe liver injury that may lead [...]

After all the rain that fell on the nation’s medicine chest, the shining sun is a welcome sight here at the Pharmalot corporate campus. We apologize for what appears to be a later start than usual, but we were shuttling short people to various schools. Now, though, the time has come for a hot cup [...]

Are you reading this, Carl? A letter to The New England Journal of Medicine details two dramatic, but potentially cautionary tales about Tysabri, Biogen’s troubled mulitple sclerosis med. And the news prompts one Wall Street analyst to say Biogen’s forecast for growing the number of Tysabri patients is unrealistic, perhaps dampening prospects for the biotech [...]

Another busy day. We hardly know where to turn first. And so while we sort things out, we thought the following items may be of interest. Hope your day is going smoothly and you have a chance to take a well-deserved break…
Biogen Quarterly Profits Surge (The Street.com)
Three Generic Versions Of Fosamax Are Launched (Yahoo/AP)
Perrigo Reports [...]

The famed raider is seeking three seats on Biogen Idec’s board, the biotech disclosed this morning. The move raises the specter of a proxy fight and, perhaps, causing Biogen to again be up for sale. The biotech was unable to find a buyer and last month ended an auction, despite interest from several large drugmakers, [...]

Welcome to the working week. We hope you enjoyed the weekend. As always, there is much to do. No doubt, the next few days will be busy ones. And so as you prepare for meetings and projects, we hope these will help you get oriented. So grab a cup of something hot and dig in…
Mylan [...]