Questcor Pharmaceuticals Inc (NASDAQ:QCOR)- in quest of health with Synacthen, Biogen Idec Inc (NASDAQ:BIIB)
On 11 June Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) announced that it has acquired the rights from Novartis Pharma AG and also Novartis AG to develop Synacthen as well as Synacthen Depot in the United States. Subject to specific closing conditions, the company holds the rights in some countries outside America. Currently, Synacthen is available in over 40 countries for various indications. Synacthen Depot is Synacthen’s depot formulation. Outside the U.S, these products have been approved for some specific autoimmune as well as inflammatory conditions. Till now neither of these products had been either developed or approved within the United States.
QCOR is a bio-pharma company that focuses on the treatments for patients who suffer from difficult-to-treat and serious autoimmune as well as inflammatory disorders. H.P. Acthar Gel also called Acthar is its primary product. This injectable drug has been approved by the U.S Food Drug Administration for treating 19 different indications. Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR)’s R&D program focuses on evaluating the use of Acthar for some on-label indications.
The Biogen drug
Towards the latter half of May 2013, Biogen Idec Inc (NASDAQ:BIIB) announced that the company has submitted a Biologics License Application to the United States Food and Drug Administration for the approval of PLEGRIDY. This is the company’s pegylated subcutaneous injectable-candidate and is used for the treatment of RMS.
This submission was based on results from the 1st year of the 2-year global Phase III ADVANCE study. The data that was collected, demonstrated that PLEGRIDY has met all primary as well as secondary endpoints. It has significantly reduced disease activity including disability progression, relapses as well as brain lesions in comparison to the placebo. At one year, it also showed very favorable tolerability and safety profiles at one year.
Through cutting-edge medicine and science, Biogen Idec is engaged in discovering, developing and delivering innovative therapies to patients across the world. These therapies are used to treat neurodegenerative diseases, autoimmune disorders and hemophilia. The 1978-founded, Biogen Idec Inc (NASDAQ:BIIB) is the oldest independent bio-tech company in the world. The company generates over $5B in annual revenues.