Biotech, Tysabri, Multiple Sclerosis

Biogen Idec, Elan Say More Than 31,800 Patients Taking Tysabri For MS

Luke Timmerman 7/22/08

Cambridge, MA-based Biogen Idec and its Irish partner, Elan, said today their multiple sclerosis drug Tysabri is being taken by more than 31,800 patients worldwide, and no new cases of the brain infection called PML have been detected since the drug was brought back to the U.S. market two years ago. Biogen (NASDAQ: BIIB) is counting on continued growth from Tysabri, and has estimated 100,000 patients will be on the drug by the end of 2010, which would generate $2.8 billion in annual sales at current prices. Biogen’s stock climbed $4.42, or 6.6 percent, to $71.27 at 12:23 pm Eastern time.