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Biogen Idec, Inc. (Massachusetts) (BIIB) Shares Soar on Multiple Sclerosis Drug Data


4/21/2011 8:27:57 AM

BOSTON, April 21 (Reuters) - Biogen Idec Inc (BIIB.O) reported positive data from a late-stage clinical trial of its experimental multiple sclerosis drug, BG-12, and shares jumped 21 percent in premarket trading on Thursday.

Executives told analysts on the company's first-quarter earnings conference call that the drug cut the proportion of patients who relapsed by 49 percent at two years compared with patients who took a placebo. More than 1,200 patients were in the trial.

The drug reduced the rate of disability progression by 38 percent at two years compared with placebo.


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