Biogen reports PML case

AMERICAN pharmaceutical company Biogen has reported another case of rare brain disease PML in a patient using the multiple sclerosis drug Tysabri – which is co-owned by Dublin-based pharma, Elan.

For the past number of months, Biogen has been posting regular weekly updates on PML cases on its website – the disease being a potential side-effect in users of the Tysabri drug.

The latest case, confirmed by the Boston- based company on Friday night, concerned a patient who had already taken 34 dosages of the treatment.

Biogen will continue providing weekly updates on PML cases up to July 24, which is the third anniversary of the drug’s return to market. It was withdrawn in 2005 following the death of one person from PML.

Biogen had previously said that within three years of Tysabri’s return to market, the risk-benefit profile of the treatment should be well-known, removing the need for constant updates on potential new cases.

Elan started the week shakily, yesterday, with its share price falling by 11c (after rising, earlier in the day, by the same amount) to close yesterday at a price of €5.21 in Dublin.

Although, more cases of PML have been reported since Biogen started posting updates on its website, these have not affected the general risk profile of – on average – “just” one in 1,000 users being affected by the disease.

“With 39,300 patients on commercial therapy to the end of March, Tysabri remains well within its label of 1:1,000,” according to Paraic Quinn of NCB Stockbrokers.

Meanwhile, nothing more – in terms of communication – relating to the progress of Elan’s ongoing strategic review is expected until the company’s annual general meeting in Dublin, in July.

However, earlier this month, Elan’s chief executive Kelly Martin said that it is hoped that a conclusion to the programme – which began in January – can be reached “in the near term”.

Elan has been linked as a potential takeover target for a number of high-profile pharmaceutical companies, but the Irish company has always maintained that it would prefer a strategic alliance.