Word: biogen
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...Cambridge-based biotechnology firm Biogen, Inc. suffered a major setback this week, as the firm announced that it will stop most work on a the blood-thinning drug hirulog...
...Biogen officials are putting a positive spin on the setback, which has forced the company to take a $25 million pretax charge against its earnings, eliminating profits for the third quarter of the fiscal year...
Bloom said she does not expect Biogen's failure with Hirulog to discourage other firms in the industry from putting money into research and development. Beta interferon, another of Biogen's new drugs, is a "very promising and encouraging" drug used to battle multiple sclerosis, Bloom said. The drug has passed all clinical testing and will be filed with the U.S. Food and Drug Administration for approval in early 1995, she said...
...very positive about our beta interferon," Jim Vincent, Biogen chair and CEO, said yesterday. "We now expect to operate profitably in the fourth quarter...
...Biogen's Hedison said beta interferon causes fewer side effects than betaseron and can be taken in smaller doses...