Rise in Shares for Biogen, Eisai as Alzheimer’s Drug Succeeds in Mid-Stage Trial.
July 9, 2018
Source: Reuters
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In a breakthrough finding, revealed through the final analysis of a mid-stage trial, Japanese pharmaceutical firm, Eisai Co and Biogen Inc’s drug for Alzheimer’s proved beneficial for patients who received the highest dose.
This catapulted Eisai’s shares up by 14.6 percent in Friday morning trading in Tokyo and Biogen’s shares by 7 percent at $320 in after-hours trading.
In a statement on July 5, the companies announced that the highest dose of the drug BAN2401 decelerated disease progression significantly at the end of 18 months compared to a placebo. The trial was carried out on 856 patients with early Alzheimer’s who were following five dose regimens.
BAN2401, among several other drugs, acts by targeting beta-amyloid, a protein that forms toxic brain plaques which are believed to be an underlying cause of this degenerative the disease.
To date, there haven’t been any positive outcomes of drug trials in slowing the progression of Alzheimer’s disease. Current drugs can do no more than give symptomatic relief.
Biogen and Eisai said in their statement on Thursday that the complete findings of the final analysis of the mid-stage trial will be made public at a future conference.
By Ddu
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