|Biogen Idec Inc (NASDAQ:BIIB) stock surges on news of Alzheimer drug|
|By William Kent|
|Friday, 20 March 2015 17:22|
Biogen Idec Inc. (NASDAQ:BIIB) shares surged by 10.8% in morning session briefly due to high volume after giving an update about its keenly tracked Alzheimer's disease drug candidate aducanumab.
The company shared interim results of a study which is at an early stage that demonstrated significant reduction in amyloid plaque levels as well as a favorable safety profile at the 12th International Conference on Alzheimer's and Parkinson's Diseases and Related Neurological Disorders that was organised in Nice, France.
Alzheimer's disease has been very shown to be very difficult to treat with over 99% of experimental drugs faultering in attempts to lower amyloid plaque levels in the last ten years despite the promising pre-clinical studies. Hence, the company may prove to be a game-changer if its biological-based drug rises into the ranks of megablockbusters. This is because over 10 million people globally and 5 million Americans are suffering from Alzheimer’s.
The company is hoping to accelerate aducanumab's development through a pivotal late stage trial in the year. The new trial will have primary endpoints which may well be the basis for regulatory filing. This is brilliant for investors of Biogen as few analysts opine that a truly disease-modifying drug may generate up to $20 billion in peak sales. But, a closer reality check by most experts opine that new breakthrough Alzheimer's drug may give sales of up to $4 billion. Yet, it is very impressive and hence important to keep a tab on the experimental drug in future.