Psoriasis Drugs Prepare to Go Head-to-Head

SAN FRANCISCO -- Investors interested in eavesdropping on some biotech trash-talking might want to tune in to an important psoriasis medical meeting being held here next week.

Now we admit, a bunch of dermatologists chattering in the halls of a San Francisco hotel might not titillate the eardrums a la the Allen Iverson-Kobe Bryant feud, but for biotech observers, some juicy stuff will be thrown around the International Psoriasis Symposium, which runs June 19-24.

The best showdown will come between Biogen(BGEN Quote) and a tag team comprising Genentech(DNA Quote) and Xoma(XOMA Quote). Both sides have a lot riding on the meeting because testing on their respective psoriasis drugs is largely completed and the drugs are about to be submitted to U.S. drug regulators. And while the companies won't admit it publicly, they have already been slinging mud at each other. The stakes are high: The 5 million American psoriasis sufferers could spend as much as $2 billion on new drugs annually by 2005. ...