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Brussels (Belgium), 30 June 2009 at 10:30 pm CEST - press release, regulated information - UCB and Biogen Idec announced today the discontinuation of the Phase II clinical trial of CDP323 for the treatment of relapsing multiple sclerosis (MS). Preliminary interim efficacy analysis showed that patients enrolled in this clinical trial did not benefit as expected from CDP323 compared to placebo after a six month treatment period. No cases of PML (progressive multifocal leukoencephalopathy) were noted.
CDP323 is an oral small molecule alpha4 integrin inhibitor that was being developed by UCB and Biogen Idec for relapsing forms of multiple sclerosis.
For UCB, results of this interim analysis trigger a re-valuation of the intangible asset "CDP323". UCB expects a non-cash, non-recurring impairment of a high double-digit million pre-tax euro amount. This will be more than compensated by cash, non-recurring capital gains, which resulted from the divestitures UCB made earlier this year. More information on the financial impacts of both the impairment and the capital gains will be included in the Half Year Report 2009 of UCB, due July 31, 2009.
Notes to the Editors
About Multiple Sclerosis
Multiple sclerosis (MS) is a chronic disease of the central nervous system that affects an estimated 1.1 - 2.5 million people worldwide. Although the exact cause is unknown, MS occurs as a result of loss of the protective outer coating on nerves in the brain and spinal cord. Deterioration in the way that messages are transmitted around the body leads to loss of movement and other body functions. Symptoms of MS can include vision problems, loss of balance, numbness, difficulty walking and paralysis.
About Biogen Idec
Biogen Idec creates new standards of care in therapeutic areas with high unmet medical needs. Founded in 1978, Biogen Idec is a global leader in the discovery, development, manufacturing, and commercialization of innovative therapies. Patients in more than 90 countries benefit from Biogen Idec's significant products that address diseases such as lymphoma, multiple sclerosis, and rheumatoid arthritis. For product labeling, press releases and additional information about the company, please visit www.biogenidec.com.
About UCB
UCB, Brussels, Belgium (www.ucb.com) is a biopharmaceutical company dedicated to the research, development and commercialization of innovative medicines with a focus on the fields of central nervous system and immunology disorders. Employing around 10 000 people in over 40 countries, UCB produced revenue of 3.6 billion euro in 2008. UCB is listed on Euronext Brussels (symbol: UCB).
Forward looking statement
This press release contains forward-looking statements based on current plans, estimates and beliefs of management. Such statements are subject to risks and uncertainties that may cause actual results to be materially different from those that may be implied by such forward-looking statements contained in this press release. Important factors that could result in such differences include: changes in general economic, business and competitive conditions, effects of future judicial decisions, changes in regulation, exchange rate fluctuations and hiring and retention of its employees.
For the pdf-version of this press release, please click on the link below:
http://hugin.info/133973/R/1326231/312091.pdf
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Copyright Copyright Hugin AS 2009. All rights reserved.
Further information Antje Witte Corporate Communications & Investor Relations UCB T +32.2.559.9414 Email Contact Michael Tuck-Sherman Investor Relations UCB T +32.2.559.9712 Email Contact Nancy Nackaerts External Communications UCB T +32.2.559.9264 Email Contact Eimear O'Brien Global CNS Communications Manager UCB T +32.2.559.9271 Email Contact Shannon Altimari Public Affairs Biogen Idec T:+1 617-914-6524 Email Contact John Applegate Investor Relations Biogen Idec T: +1 617-679-2812 Email Contact
SOURCE: UCB
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