Biogen enters new MS collaboration, buying rights to a potential competitor

27 November 2017
2019_biotech_test_vial_discovery_big

US biotech major Biogen (Nasdaq: BIIB) has entered into a global license and collaboration agreement with Ireland-incorporated biotech firm Alkermes (Nasdaq: ALKS) to develop and commercialize ALKS 8700, a novel, oral, monomethyl fumarate (MMF) small drug molecule in Phase III development for the treatment of relapsing forms of multiple sclerosis (MS).

Alkermes’ shares gained as much as 5.8% in pre-market trading, but levelled off, while Biogen was up 1%, both on light volume.

Alkermes’ compound has been seen as a potential threat to Biogen’s top-selling MS drug Tecfidera (dimethyl fumarate), which had sales of $845 million in the third quarter of this year.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Biotechnology