Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Biogen    BIIB

BIOGEN

(BIIB)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Biogen : NHS England, Biogen reach deal on pricey drug for deadly disorder

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/14/2019 | 08:05pm EDT
FILE PHOTO: A sign marks a Biogen facility in Cambridge

NEW YORK (Reuters) - England's National Health Service said it had reached a deal to pay for U.S. drugmaker Biogen Inc's expensive spinal muscle atrophy treatment Spinraza.

NHS England said it reached a "managed access agreement" with Biogen under which it will fund treatment for a limited time and collect data on the drug's effectiveness.

NHS England did not disclose the price it will pay for the drug.

Biogen confirmed the deal on Tuesday and said it applauded the decision by the National Institute for Health and Care Excellence to recommend funding for Spinraza in the United Kingdom.

Spinraza, which is administered by spinal injection every four months, has a U.S. list price of $750,000 (£581,122) for the first year and $375,000 (£290,561) annually thereafter.

Britain's healthcare cost agency, NICE, said in August it could not recommend Spinraza as a cost effective treatment. The rejection came despite a lower British price tag of 450,000 pounds for the first year and Biogen offering an undisclosed discount to the National Health Service.

Spinal muscular atrophy (SMA) is the leading genetic cause of infant mortality, affecting one in every 10,000 live births. About 60 percent of patients have the most severe Type 1 form of the disease, which often leads to paralysis, impaired breathing and death by the second birthday.

Between 600 and 1,200 children and adults are currently living with the condition in England and Wales, according to NHS England. Spinraza will be made available immediately to Type 1 patients by Biogen, it said.

It said that Spinraza will be made available for other patients - including adults and siblings who have yet to show symptoms - in a few weeks, after NICE publishes guidance.

Spinraza was the first approved treatment for SMA, but is expected to soon face new competition. The U.S. Food and Drug Administration is due to decide on approval for Novartis' gene therapy Zolgensma this month, with other regulators expected to follow suit later this year.

Novartis says the one-time treatment could be a cure for SMA and is pushing for a price in the range of $1.5 million to $5 million. That would make Zolgensma the most expensive new therapy.

(Reporting by Michael Erman; Additional reporting by Caroline Humer and Rishika Chatterjee; editing by Bill Berkrot)

By Michael Erman

Stocks mentioned in the article
ChangeLast1st jan.
BIOGEN -0.89% 227.06 Delayed Quote.-24.54%
NOVARTIS 3.01% 87.25 Delayed Quote.17.44%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BIOGEN
05/22BIOGEN : to Present at Bernstein's 35th Annual Strategic Decisions Conference
AQ
05/20BIOGEN : Recommends Stockholders Reject the Below-market Mini-tender Offer by TR..
AQ
05/15BIOGEN : SPINRAZA Receives Positive Recommendation from NICE for Funding in the ..
AQ
05/15BIOGEN INC. : Change in Directors or Principal Officers (form 8-K)
AQ
05/14BIOGEN : NHS England, Biogen reach deal on pricey drug for deadly disorder
RE
05/14BIOGEN : SPINRAZA® (nusinersen) Receives Positive Recommendation from NICE for F..
AQ
05/13BIOGEN : Alzheimer's Clinical Trials Consortium Selects Elenbecestat and BAN2401..
PR
05/10BIOGEN : Alzheimer's Clinical Trials Consortium Selects Elenbecestat and BAN2401..
PR
05/08BIOGEN : Data at AAN Demonstrate Biogen's Leadership and Commitment to Innovatio..
AQ
05/08BIOGEN : Data at AAN Demonstrate Biogens Leadership and Commitment to Innovation..
AQ
More news
Financials ($)
Sales 2019 13 902 M
EBIT 2019 7 103 M
Net income 2019 5 366 M
Finance 2019 3 490 M
Yield 2019 -
P/E ratio 2019 8,14
P/E ratio 2020 8,12
EV / Sales 2019 2,92x
EV / Sales 2020 2,66x
Capitalization 44 025 M
Chart BIOGEN
Duration : Period :
Biogen Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BIOGEN
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 32
Average target price 254 $
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Michel Vounatsos Chief Executive Officer & Director
Stelios B. Papadopoulos Chairman
Jeffrey D. Capello Chief Financial Officer & Executive Vice President
Alfred W. Sandrock Chief Medical Officer & Executive Vice President
Michael D. Ehlers Executive VP-Research & Development
Sector and Competitors
1st jan.Capitalization (M$)
BIOGEN-24.54%44 025
CSL LIMITED11.48%64 527
ALEXION PHARMACEUTICALS28.73%28 512
SAMSUNG BIOLOGICS CO LTD--.--%16 697
BIOMARIN PHARMACEUTICAL INC.4.60%15 950
GRIFOLS1.75%15 855