Biogen IDEC Changes Name,But Gets Downgrade Anyway

Biogen has dropped the IDEC from its name as of today,Monday 23 March,and is getting a new logo as well.It added IDEC when it merged with IDEC Pharmaceuticals 12 years ago.*
Today we are a new company,distinct from either parent,and we hope to not only carry on our heritage of excellence,but to forge new ground,said CEO Dr.George Scangos.0ur name is intended to acknowledge our heritage,but also to create a new image to reflect our new reality.*
The Cambridge,Massachusetts-based firm has a market cap of around 112 billion dollars and a staff of 7550.Last week the company announced a successful early stage trial for a drug that slows the progression of early stage Alzheimer's disease.A third of the patients with a gene that makes them susceptible to developing Alzheimer's had to discontinue the treatment because of brain swelling,however.Still,Biogen is going directly to a late stage trial,aiming to have the drug on the market by 2020.It has been estimated the new drug,BIIB037,could bring in more than 10 billion dollars at peak revenue.
Biogen is already known for its effective multiple sclerosis therapies,but now aims to find a cure for the ailment,and even for ALS,or Lou Gehrig's disease.It sees itself as a neurodegenerative disease specialist.
Biogen is also working on a number of biofamiliar drugs,the equivalent of generics for off-patent biotech drugs.It is seeking European approval for biofamiliars it ha developed for Amgen's Enbrel and Johnson and Johnson's Remicade,both of which are rheumatoid arthritis treatments.
Biogen stock was downgraded by Stiefel Financial from buy to hold on concern that it is overvalued because definitive data for the Alzheimer's drug will not be in before 2018.Citi maintained its buy rating on the firm,and Barclays maintained its overweight on the company,although Biogen's price targets have already been exceeded.The expensive stock was going for 469.71 this morning,down 1.34%.*
Biogen (BIIB),iShares Biotechnology ETF (IBB)

MedImmune,Hopkins Sign Research Pact

An R&D company and a research university have joined forces in the quest for new treatments for a number of serious illnesses,such as cancer,rheumatoid arthritis and infectious diseases.MedImmune,the Gaithersburg,Maryland biotech firm that is a subsidiary of pharma titan AstraZeneca,and Baltimore's The Johns Hopkins University signed the five year,6.5 million dollar research agreement on 11 December.*
The broad-scale,long-term partnership calls for both institutions to contribute funding,personnel and materials to the joint efforts and training programs.We believe this significant collaboration with JHU will create a new standard in how academia and inustry can work together,said Dr.Bahija Jallal,executive vice president at MedImmune.Our partnership with this prestigious research university will leverage each organisation's strength;advance research in critical therapeutic areas;and strengthen Maryland's presence as a growing hub in the bioscience industry.*
We are excited about the opportunity to collaborate with MedImmune researchers to accelerate the development of new therapies to treat a variety of serious diseases such as multiple sclerosis;rheumatoid arthritis;chronic obstructive pulmonary disease;and certain types of cancer,said Landon King,executive vice dean of The Johns Hopkins University School of Medicine.We believe that by working together to leverage the strength of each organisation,we can make significant advances.*
MedImmune focuses on the discovery,development and commercialisation of small molecule and biologic prescription medicines,pioneering innovative research and exploring novel pathways across its key therapeutic areas.It is best known for its vaccines FluMist and Synagis(R),which helps prevent respiratory syncytial virus infections in infants.*
AstraZeneca(AZN)

Pfizer's New Rheumatoid Arthritis Pill Approved

Pfizer's new rheumatoid arthritis(RA) drug XELJANZ(R) has gotten FDA approval for adults with moderate to severe RA who had a poor response to methotrexate.It is the first RA treatment approved in a new class of medicines called JAK inhibitors,and the first new oral disease-modifying anti-rheumatic drug(DMARD) approved in more than 10 years.
The new pill was approved for a 5mg twice daily dosage.It may be used alone or in combination with methotrexate or other non-biologic DMARDs.
Xeljanz is a second-line medication,meaning that pre-treatment with a biologic is not required.It is an important new option that could potentially change the way rheumatologists treat this serious autoimmune disease,according to Pfizer CEO Ian Read.The discovery and development of Xeljanz by Pfizer scientists reflects our commitment to R and D innovation and our dedication to bringing important and meaningful medications to patients.
Xeljanz is specifically designed to inhibit JAK pathways,which are signaling pathways within the cell that play an important role in RA inflammation.Many patients do not adequately respond to,or are intolerant of,currently available RA treatments,said Stanley Cohen,MD,study investigator.Xeljanz significantly reduced the signs and symptoms of RA and improved physical function.
Possible side affects include increased risk of certain infections and cancers,as the drug changes the way the immune system works.
Pfizer(PFE)