Biogen Says Multiple Sclerosis Drug Trial Was Unsuccessful

Biogen Inc. said Wednesday that a late-stage trial of a drug to treat of secondary progressive multiple sclerosis was unsuccessful. The trial of Natalizumab found that the drug was "well-tolerated" by patients but did not meet its primary and secondary endpoints. "While we're disappointed with these results, we believe this research will provide the MS community important insights into this more advanced patient population," said Alfred Sandrock, group senior vice president and chief medical officer at Biogen, in the press release. Shares of Biogen rose 10% Wednesday after the company beat third-quarter earnings expectations