Biogen Idec Inc. (BIIB) announced encouraging two-year data from the phase III ADVANCE study which evaluated the efficacy, safety and tolerability of Plegridy in patients suffering from relapsing-remitting multiple sclerosis (RRMS).
Post-hoc analyses of the two-year data from the study confirmed that Plegridy's positive effects on reducing disease activity and disability progression were maintained in the second year of the study.
A significantly higher proportion of patients receiving Plegridy in both the years demonstrated no evidence of disease activity (absence of clinical and MRI disease activity) over two years of treatment as compared to those who switched to Plegridy from placebo. Additionally, significant reductions in the risk of 24-week confirmed disability progression was observed in patients receiving Plegridy for a two-year period as compared to patients treated with placebo in the first year.
We believe that the positive two-year data from the ADVANCE study will boost both physicians’ and patients’ confidence in Plegridy.
We remind investors that the FDA approved Plegridy for the treatment of RRMS patients in Aug 2014. The drug is also approved in the EU.
Plegridy is administered subcutaneously using Plegridy Pen, a ready-to-use autoinjector, or a prefilled syringe. Plegridy’s less frequent dosing schedule (once every two weeks) could help it gain share from other beta interferon treatments that are currently available.
Biogen, which holds a strong position in the multiple sclerosis (MS) market, is developing another MS candidate – daclizumab (phase III) – in collaboration with AbbVie Inc. (ABBV).
Biogen is a Zacks Rank #2 (Buy) stock. Other well-ranked stocks in the biotech sector include Gilead Sciences Inc. (GILD) and Amgen Inc. (AMGN). While Gilead is a Zacks Rank #1 (Strong Buy) stock, Amgen carries the same rank as Biogen.
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