Biogen Idec announced it is evaluating strategic options for its non-Hodgkin's B-cell lymphoma therapy Zevalin (ibritumomab) during its third quarter sales and earning call Oct. 31.

"We are currently evaluating our strategic options for Zevalin, including partnering or possible divestiture," CFO Peter Kellogg said.

Sales of the oncologic slipped 15% in the third quarter to $4.4 mil. For the nine months, sales of Zevalin were down 17% over the year ago period to $13.9 mil.

"That probably isn't enough to drive us to a profitable position," Exec VP-Portfolio Strategy Burt Adelman said of Zevalin's Q3 sales performance. "I think that's part of the logic we have, thinking about strategic options for it."

The drug, approved in 2002, is indicated for the treatment of patients with relapsed or refractory low-grade, follicular or transformed B-cell non-Hodgkin's lymphoma, including patients with rituximab-refractory follicular NHL.

Biogen Idec's oncology portfolio was recently bolstered by the approval of Rituxan (rituximab), which it markets with Genentech, for two new indications for patients with CD20-positive, B-cell NHL (¹ Also see "Rituxan Adds Third NHL Indication In 2006" - Pink Sheet, 2 October, 2006.).

CEO Jim Mullen also pointed out during the Q3 call that Biogen Idec has pushed two new oncology pipeline products into Phase III, galiximab, an anti-CD80, for NHL and lumiliximab, an anti-CD23, for chronic lymphocytic leukemia.

Biogen Idec's sales increased 18% in the third quarter to $703 mil., driven by sales of the multiple sclerosis treatment Avonex (interferon beta-1a), up 19% to $445 mil., and Rituxan, up 12% to $204 mil.

-Jessica Merrill (j.merrill@elsevier.com)

Biogen Idec Is Evaluating Strategic Options For Zevalin

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