Sanofi-Aventis (NYSE: SNY) received positive data from Genzyme concerning a phase 2 clinical trial for its experimental multiple sclerosis medication, alemtuzumab. The estimated value of the drug candidate was a key sticking point in the negotiations between the biotechnology company and its acquirer. In the final $20.1 billion acquisition deal, completed earlier this month, Sanofi agreed to provide Genzyme shareholders with conditional payments based on milestones connected with the drug, as well as with other drugs in Genzyme’s stable.
Genzyme executives noted that additional five-year patient data from its completed Phase 2 trial showing that almost two-thirds of patients “remained free of clinically-active disease as much as four years after most patients received their last course of the investigational drug.” These new data were presented at the American Academy of Neurology’s annual meeting in Hawaii.
The trial compared alemtuzumab, which would be marketed under the name Lemtrada, if approved, to the approved MS therapy Rebif, made by EMD Serono and Pfizer (NYSE:PFE). The new data reveals that 65 percent of alemtuzumab-treated patients were free of clinically-active disease, compared to 27 percent of patients taking Rebif. What this means that for five years, those two-thirds of patients did not suffer any relapses or have a sustained increase in disability, as measured by the Expanded Disability Status Scale.
The data also showed patients taking Genzyme’s drugs were twice as likely to see a sustained improvement in their vision, a common complication of the disease, as were those using Rebif.
Two phase 3 studies on the drug candidate are currently underway. Sanofi plans to file for U.S. Food and Drug Administration approval for alemtuzumab in early 2012. Alemtuzumab has been granted fast track status, meaning that the review time will be shortened to six-months.
Sanofi-Aventis was trading at $37.31, up $0.22, or 0.59 percent, as of 2:39 PM EDT.
Thursday, April 14, 2011
Sanofi-Aventis (NYSE:SNY) Gets Positive Feedback from Genzyme for Alemtuzumab
Labels:
Genzyme,
Pfizer,
Sanofi Aventis
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment