Biogen gets beat on new MS pill
Biogen Idec Inc. may face a tough day, following the U.S. Food and Drug Administration approval of the first ever treatment for multiple sclerosis in pill form, called Gilenya. The drug approval is considered to be a watershed moment in the treatment of the disease. Until now, patients have had to go to the hospital for periodic infusions.
Analysts say the approval of the novel once-a-day oral therapy, owned by Novartis (Nasdaq:NVS), poses a real threat to Biogen’s MS franchise, which includes the blockbuster drugs Tysabri and Avonex.