Big-cap biotech Biogen (BIIB) said Wednesday that it had licensed a drug candidate from Japan’s Mitsubishi Tanabe Pharma for treating multiple sclerosis and other autoimmune diseases, sending Biogen stock rising. The candidate, MT-1303, is an oral S1P modulator, similar to Novartis’ (NVS) MS drug Gilenya and RPC-1063, the late-stage drug candidate that Celgene (CELG) just acquired with its buyout of Receptos. Data from the phase two trial in
The U.S. Patent and Trademark Office ruled Wednesday against a patent challenge to Biogen’s (BIIB) blockbuster drug Tecfidera, holding out hope for denial of similar challenges against other drugs by hedge fund manager Kyle Bass. Biogen stock rose. The USPTO declined to hold a trial in response to Bass’s request for inter partes review (IPR) on Tecfidera’s patent with a number ending in 514, which expires in 2028. The office cited a “failure to
BY Biogen beat second-quarter earnings estimates Friday, but the big-cap biotech’s stock crashed on weak sales, sharply lower guidance and reported failure in a clinical trial. Biogen’s (BIIB) earnings, excluding one-time items, rose 21% vs. a year earlier to $4.22 a share, beating analysts’ views by 12 cents. Revenue climbed 7% to $2.6 billion, about $120 million short of consensus. Biogen slashed its full-year revenue guidance to