Biogen Idec, Genentech deal backed
CAMBRIDGE - Biogen Idec Inc. said yesterday an arbitration panel affirmed its right to participate in strategic decisions in a partnership with Genentech, which includes the cancer drug Rituxan and other drug candidates.
The panel ruled that a committee of three Biogen employees and three Genentech employees must unanimously approve all plans to develop drug candidates for each possible indication, Biogen said.
Biogen Idec comarkets Rituxan in the United States with Genentech, which is being bought by Roche Holding AG.
The drug is approved to treat B-cell non-Hodgkin lymphoma and rheumatoid arthritis.
Biogen Idec said the ruling means South San Francisco-based Genentech can’t proceed with developing 2H7v16 for neuromyelitis optica or relapsing-remitting multiple sclerosis, or 2H7v114 for cancer.
However, Genentech can continue trials of 2H7 drugs for rheumatoid arthritis and lupus.
Correction: Because of incorrect information from the Associated Press, this Daily Briefing item in the Business section about a partnership between Biogen Idec Inc. and Genentech gave incorrect information about whether Genentech can pursue development of several drug candidates. The company can develop the drug candidates if a joint panel unanimously approves its plans.