Biogen Idec

(BIIB) - Get Report

and its German partner Fumapharm Thursday announced positive test data on their psoriasis treatment.

The companies said a phase III study designed to evaluate the efficacy and safety of BG-12 in the treatment of moderate to severe psoriasis met the primary endpoint.

Patients receiving BG-12 demonstrated a statistically more significant clinical improvement after 16 weeks of treatment than patients receiving placebo.

The companies said the data will be used to support a filing for market approval in Germany this year, while additional phase III studies will need to be conducted before seeking regulatory approval in the U.S. and the rest of Europe.

The development is a welcome one for Massachusetts-based Biogen Idec, whose stock has fallen sharply since February when it first revealed health and safety issues with its multiple sclerosis treatment Tysabri, which was developed with Ireland's




Biogen shares rose 35 cents, or 1%, to $35.75 in the premarket.