Biogen Idec and Abbott MS drug candidate daclizumab positive in Ph IIb

US biotech Biogen Idec (Nasdaq: BIIB) and health care giant Abbott Laboratories (NYSE: ABT ) have announced positive top-line results from SELECT, a global, registrational Phase IIb clinical trial designed to evaluate the investigational compound daclizumab high-yield process (DAC HYP) in people with relapsing-remitting multiple sclerosis (RRMS) over one year. The news saw Biogen’s shares rise 1.6% to $89.43 and those of Abbott gain 1.0% to $48.56.

Abbott’s involvement in the project came with its $722 billion acquisition last year of Facet Biotech, which was co-developing daclizumab with Biogen (The Pharma Letter March 10, 2010). Biogen had itself tried to buy Facet in a hostile approach in 2009, which valued the firm at some $356 million, but which was rebuffed.

Daclizumab was marketed by Swiss drug major Roche under the trade name Zenapax for the prophylaxis of acute organ transplant rejection in patients receiving kidney transplants, an indication that was approved by US and European regulators in 1997 and 1999, respectively. It is no longer being sold for this use as a result of newer drugs coming to market. The compound has also been tested as a potential asthma therapy by Roche and Protein Design Labs.