Genentech and Biogen Idec Inc. said Friday the drug candidate Ocrelizumab met key goals in a late-stage rheumatoid arthritis study.
The companies said the drug candidate met the primary goal of improving signs and symptoms of rheumatoid arthritis, when given in combination with methotrexate. Rheumatoid arthritis' key symptoms include inflammation of the joints.
Results from three other late-stage studies are expected during the first half of 2010, the companies said.
Shares of Cambridge, Mass.-based Biogen rose 60 cents to $48.86 in morning trading. South San Francisco, Calif.-based Genentech is now part of Swiss drug developer Roche.