Biogen Idec (BIIB) shares slid Friday on concerns that a competitor's oral pill for multiple sclerosis may pinch the company's profits.
Merck KGaA, the German drug maker, said it would seek regulatory approval mid-year for a new oral pill for multiple sclerosis following positive phase III results released Friday.
All current treatments for multiple sclerosis (MS), including Biogen Idec's Avonex and Tysabri, are given by injections, which leaves them commercially vulnerable to an oral MS drug, if one can be approved that is equally or more effective with an acceptable safety profile.
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