"Cambridge drug firms forge alliance" by Globe Staff And Wire | March 25, 2009
AVEO Pharmaceuticals Inc. has entered a strategic alliance with Biogen Idec Inc. to develop and commercialize potential treatments for cancer and other diseases.
Both companies have their headquarters in Cambridge. While the agreement entitles AVEO to an upfront payment as well as milestone payments if certain conditions are met, the financial details of the transaction were not disclosed.
Also, Biogen Idec may have found a treatment for the deadly brain infection that has been tied to use of its multiple sclerosis drug Tysabri, the biotechnology company's fastest-growing product.
A malaria pill developed during the Vietnam War is being tested by Biogen on patients with progressive multifocal leukoencephalopathy, the brain disorder known as PML, said Al Sandrock, Biogen's head of neurology research.
Tysabri was pulled from the market in 2005 after three PML cases were reported. It was reintroduced a year later when US regulators said the medication's effectiveness, twice that of other MS drugs, outweighed its risks. --more--"
Yeah, they are looking out for your health, right.
Update:
A going and growing concern (thanks to your tax dollars -- borrowed at interest, of course):
NEW YORK - Biogen Idec Inc. said it has 20 new medicines in advanced human trials, including treatments for multiple sclerosis, cancer, and Parkinson's disease.
At least six of the new medicines have reached the final tests generally required for US marketing clearance, the Cambridge, Mass.-based biotechnology company said yesterday. Biogen planned to discuss new medicines it's developing in a meeting yesterday with investors and analysts in Boston.
Biogen, the world's largest maker of multiple sclerosis drugs, will have two MS medicines in late-stage trials by the end of this year, including a new version of its top-selling Avonex drug and a pill, called BG-12. Avonex, an injectable medicine, generated $2.2 billion last year, accounting for more than half of Biogen's $4.1 billion in revenue. Its fastest-growing product is the MS drug Tysabri, which produced worldwide sales of $813 million for Biogen and partner Dublin-based Elan Corp.
Also see: Addicted to Biotech
"Looking out longer term, we still think Biogen has the best franchise in MS," said Geoffrey Meacham, an analyst with JP Morgan Securities in New York, in a March 19 note to investors.
I wonder how many people will end up dead because of their noxious poisons?
Biogen now has more than 60 drug programs in development covering 15 indications, according to the company's statement. Biogen's new version of Avonex is designed to offer patients more convenient dosing, a Biogen spokeswoman said. Avonex is an interferon compound. The new version is pegylated, meaning it is altered to increase the time the drug circulates in the body. The company is also testing an experimental leukemia treatment, lumiliximab, and a Parkinson's drug, BIIB-14, now in stage two trials.
--more--"
Keep your crap out of my body!!!
