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FDA clears Biogen Idec's hemophilia A drug

FDA approves Biogen Idec's Eloctate, a hemophilia treatment that lasts longer than older drugs

Associated Press

NEW YORK (AP) -- U.S. regulators on Friday approved Biogen Idec's drug Eloctate, a hemophilia A treatment that is designed to last longer than older drugs.

The Food and Drug Administration approved Eloctate for use in adults and children.

Hemophilia A is a rare, inherited disease that affects blood clotting.

Biogen Idec said that patients have to take older drugs every other day or three days a week, while Eloctate needs to be infused every three to five days. Infused drugs are taken through a needle or catheter.

The Cambridge, Massachusetts, company said that around 16,000 people in the U.S. have hemophilia A.

Shares of Biogen Idec Inc. rose $3.15, or 1 percent, to $320.70 in aftermarket trading. The stock had shed $2.58 to close at $317.55 on Friday.