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Biogen Idec's (NASDAQ:BIIB) Hemophilia Drug Works in Study


The big biotech's shares rise after company says it will apply for US drug approval next year.

Overall, Biogen said the treatment, known as a recombinant Factor IX Fc fusion protein, met its study goals to show effectiveness. The company plans to apply for US approval next year. A major benefit of Biogen's drug is that it may require far fewer injections than already approved treatments.

Pfizer (NYSE:PFE) owns a top-selling hemophilia drug, BeneFix, a drug the big pharma company acquired with its takeover of Wyeth. Biogen, which also is testing a drug for the more common condition hemophilia A, acquired its drug with the takeover of closely held Syntonix Pharmaceuticals in 2007.

Denmark pharmaceutical maker Novo Nordisk (NYSE:NVO) is also testing a new hemophilia treatment. By beating Novo Nordisk to market in the US, Biogen likely would have a sales advantage, Leerink Swann analyst Marko Kozul says in a recent note.

Twitter: @brettchase

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