European Panel Rejects Biogen MS Drug

1/21/11

Weston, MA-based Biogen Idec (NASDAQ:BIIB) said today that a European Medicines Agency committee has advised against approval of the company’s drug fampridine (Fampyra) for improving multiple sclerosis patients’ ability to walk. Biogen said it planned to appeal the committee’s opinion. The company, a major provider of MS drugs, in summer 2009 bought rights to fampridine from New York-based Acorda Therapeutics (NASDAQ:ACOR) for markets outside the U.S., where Acorda sells the drug under the name “Ampyra.” The drug was approved in the U.S. in January 2010.