STOCKWATCH Schering soars as Biogen Idec, Elan suspend marketing of MS drug 28.02.2005 14:24 Headlines
FRANKFURT (AFX) - Shares in Schering AG soared in midafternoon trade on news
that Biogen Idec and Elan Corp have voluntarily suspended the marketing of their
treatment for multiple sclerosis, Tysabri, which is a competitor of the German
group's Betaferon, dealers said.
At 2.19 pm, Schering shares were up 3.17 eur or 5.91 pct at 56.83, while the
DAX 30 index was 14.27 points or 0.32 pct higher at 4,362.37.
"This is a huge boost for Schering," said one dealer.
Biogen and Elan, which have also suspended dosing in all clinical trials,
said the decision is based on recent reports of two serious adverse events that
occurred in patients treated with Tysabri in combination with Avonex in clinical
trials.
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