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MS Pipeline Drug: Celgene

May 23, 2017

Celgene Corp. shares CELG, rose about 1% premarket before surrendering their gains, after the company reported positive results from a late-stage trial of a treatment for multiple sclerosis. Celgene said the phase III trial of ozanimod, an investigative treatment for patients with relapsing MS, met its primary goal of reducing the annualized relapse rate compared with weekly interferon. Celgene shares have gained 1% in 2017 through Friday, while the S&P 500 SPX has gained 6%.

The U.S. biotechnology company will be filling an application by the end of the year. If approved, the drug could become a future blockbuster. However, despite its positive results in the annualized relapse rates, ozanimod was not any better in disability progression. But there is still hope for ozanimod, according to Clarivate Analytics, who claim that it should be able to generate about $2 billion by 2022. Although the drug is very promising, it will have to compete with Novartis AG (ADR) (NYSE:NVS) Gilenya and Teva Pharmaceutical Industries Ltd (ADR) (NYSE: TEVA) Copaxone, which have been longer in the market. Generic copies will be entering the market by 2019.

http://www.marketwatch.com/story/celgene-reports-positive-results-in-trial-of-multiple-sclerosis-treatment-2017-05-22

https://marketexclusive.com/celgene-corporation-nasdaqcelg-ms-drug-successful-second-late-stage-study/110621/