Biogen Idec & Genentech Down on Rituxan Related Deaths

by H.S. Ayoub
BioHealthInvestor.com


Shares of Biogen Idec Inc. (BIIB) and Genentech, Inc. (DNA) are down in after hours trading on Monday after issuing a letter to physicians and other prescribers regarding updated safety information for Rituxan, Genentech's blockbuster drug.

The letter outlines two deaths in patients receiving Rituxan for treatment of Systemic Lupus Erythematosus (SLE). The problem? Rituxan is not approved for treatment of SLE. The deaths occured while using Rituxan off-label.

This is not the first time Genentech had to issue a Dear Physician Letter regarding Rituxan caused deaths. The company, along with IDEC Pharmaceuticals (before merging with Biogen), issued such a letter way back in 1998 regarding "eight post-marketing reports of severe infusion-related adverse events associated with the use of RITUXAN (rituximab) that resulted in fatal outcomes".

Biogen Idec is down by 4% while Genentech has lost more than 1% in after-hourse trading on Monday.

__________

Related BHI articles:
- Adverse Events Reporting and Supplements
- Stent Safety Issues at the FDA....Hogwash
__________