SmarTrend(R) News Watch: Biogen Confirms Brain Infection Case in Tysabri Patient, Downgraded at DB
Mon. June 29, 2009; Posted: 07:49 AM
Jun 29, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- Biogen Idec (NASDAQ:BIIB) announced that a brain infection case, called progressive multifocal leukoencephalopathy or PML, was confirmed in a Tysabri patient on June 23rd. Tysabri is a treatment for Multiple Sclerosis which was pulled from the market several years ago on reports of a patients contracting PML. The case confirmed on June 23rd was the 10th confirmed case since Tysabri was reintroduced in July 2006 after it was determined that the drug's benefits outweighed the risks associated with PML. Separately, Deutsche Bank downgraded shares of Biogen to "Hold" from "Buy", citing valuation.
Write to Chip Brian at cbrian@tradethetrend.com
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