Encouraging Data on MS Drug - Analyst Blog

Genzyme Corp. (GENZ) recently reported encouraging follow-up phase II results on its multiple sclerosis candidate alemtuzumab at the annual meeting of the American Academy of Neurology. Alemtuzumab is currently available for the treatment of B-cell chronic lymphocytic leukemia (B-CLL) under the trade name Campath. 

The study, which compared alemtuzumab with Merck Serono’s Rebif, was conducted in treatment naïve patients suffering from early, active, relapsing-remitting multiple sclerosis (RRMS). 

Results showed that about 71% of patients treated with alemtuzumab remained free of the disease even three years after treatment compared to 35% in the Rebif arm. Moreover, about 91% of patients in the alemtuzumab arm (versus 68% in the Rebif arm) were free of sustained accumulation of disability. Genzyme reported that 77% of the patients treated with alemtuzumab remained relapse-free compared to 49% in the Rebif arm. 

Genzyme provided safety data as well and said that about six cases of immune thrombocytopenic purpura (ITP), an autoimmune disease, were seen in the alemtuzumab arm. In contrast, only one case of ITP was seen in the Rebif arm. 

Alemtuzumab is currently in two pivotal phase III studies that should report results in 2011. While one study (CARE-MS I) is comparing alemtuzumab to Rebif, in treatment-naive early, active RRMS patients, the second study (CARE-MS II) is comparing alemtuzumab to Rebif in RRMS patients who relapsed during treatment. 

Positive results from these studies would be a major boost for Genzyme and would allow Genzyme to provide MS patients with a new treatment option. The MS market is dominated by players like Biogen Idec’s (BIIB) Tysabri and Avonex, Teva’s (TEVA) Copaxone, and Rebif. We currently have a Neutral recommendation on Genzyme.
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