Health and Healthcare
Biogen Idec & Genentech Down on Rituxan Related Deaths
Published:
From BioHealth Investor
by H.S. Ayoub
BioHealthInvestor.com
Shares of Biogen Idec Inc. (BIIB) and Genentech, Inc. (DNA) are down in after hours trading on Monday after issuing a letter to physicians and other prescribers regarding updated safety information for Rituxan, Genentech’s blockbuster drug.
The letter outlines two deaths in patients receiving Rituxan for treatment of Systemic Lupus Erythematosus (SLE). The problem? Rituxan is not approved for treatment of SLE. The deaths occured while using Rituxan off-label.
This is not the first time Genentech had to issue a Dear Physician Letter regarding Rituxan caused deaths. The company, along with IDEC Pharmaceuticals (before merging with Biogen), issued such a letter way back in 1998 regarding "eight post-marketing reports of severe infusion-related adverse events associated with the use of RITUXAN (rituximab) that resulted in fatal outcomes".
Biogen Idec is down by 4% while Genentech has lost more than 1% in after-hourse trading on Monday.
http://www.biohealthinvestor.com/
Robinhood set out to democratize investing to individuals, and it’s not slowing down. The app makes it possible to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
With FDIC insurance ,an award winning design, and benefits like IRAs and more, Robinhood could be your path to a richer tomorrow.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.