Biogen Idec acquires Fumapharm

Yesterday saw the announcement that Biogen Idec was to acquire private pharmaceutical firm Fumapharm AG in a move it hopes will develop its therapeutic options for multiple sclerosis (MS).

It is expected that the acquisition, which has been approved by both boards of directors, will be completed within two months.

Commenting on the deal, James C. Mullen, the president and chief executive officer at Biogen Idec, said highlighted the role of both BG-12, an oral formulate in its clinical stage currently been assessed for its potential in treating MS, and psoriasis treatment Fumaderm in the Biogen Idec’s future development.

Mr Mullen said: “We look forward to continuing the development of BG-12, a promising oral compound in MS, as well as expanding our European operations by working with Fumapharm’s existing partners to provide Fumaderm to psoriasis patients in Germany.”

Dr Hans Peter Strebel, the chairman and CEO of Fumapharm, added that Biogen Idec is “perfectly positioned to continue the development of BG-12” as a result of its experience of regulatory and commercial issues on a global scale and for its “unsurpassed expertise in MS”.

Biogen Idec states that it believes alliances between it and other companies involved in research and development will allow it to “create new standards in human healthcare” and that “successful partnerships are the reason why Biogen Idec is a leader in biotechnology”.

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