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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 progressive multifocal leukoencephalopathy were noted, the two companies said.
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 in 2009.
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