Health and Healthcare
Genentech & Biogen-Idec Tank Rituxan Hopes on Lupus Treatment (DNA, BIIB)
Published:
Genentech, Inc. (NYSE:DNA) and Biogen Idec, Inc. (Nasdaq:BIIB) came out this morning with some disappointing news.
The biotech giants have announced that a Phase II/III study of Rituxan for lupus has failed to meet its primary endpoint defined as the proportion of Rituxan treated patients who achieved a major clinical response or partial clinical response.
Unfortunately, this study results also failed to meet any of the six secondary endpoints. Genentech and Biogen Idec said they will continue to analyze the study results and will submit the data for presentation at an upcoming medical meeting.
Based on the reaction, they can analyze all they want and it doesn’t look like it will matter. Right before the open, Genentech shares are down almost 5% to $69.70 and Biogen-Idec shares are down almost 5% at $61.50.
Jon C. Ogg
April 29, 2008
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
