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Biogen Idec amends MS drug pact

Associated Press / October 22, 2010

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NEW YORK — Biogen Idec Inc. and Genentech said yesterday that they have amended their development agreement on a potential multiple sclerosis treatment.

Genentech, a unit of the Swiss drug developer Roche, will now have responsibility for further development of ocrelizumab in multiple sclerosis and will fund all costs going forward. Cambridge, Mass.-based Biogen will receive tiered, double-digit royalties on US sales that will approximate its current 30 percent interest in the compound.

Ocrelizumab recently completed a midstage study with positive results.

Also, Biogen will increase its share of the losses and profits related to the development of GA101 in the United States to 35 percent from 30 percent. It’s to treat lymphocytic leukemia and non-Hodgkin’s lymphoma. Once that drug reaches certain sales milestones, Biogen’s share of the profits of Rituxan will decrease to 35 percent from 40 percent.