Wyeth's efforts on Alzheimer's boost shares

Wyeth's efforts on Alzheimer's boost shares
by Susan Todd/The Star-Ledger
Monday April 07, 2008, 2:25 PM
Shares of Wyeth and its partner Elan got a boost today after an article in Barron's touted an experimental drug the companies are working on to treat Alzheimer's Disease.

The drug, named bapineuzumab, appears to slow the devastating effects of Alzheimer's by targeting amyloid plaques, which accumulate in the brain and detrimentally impact nerve cells in the brain. The plaque build-up results in symptoms of memory loss and difficulty performing routine tasks.

Data from a mid-stage clinical trial is expected to be released in June, but the companies are already plowing ahead with late-stage study involving 4,100 patients.

Shares of Madison-based Wyeth rose 6.3 percent, or $2.65, to $44.20 in early afternoon trading as Wall Street digested the Barron's story. Elan's stock was pulled up nearly 8 percent, or $1.71 a share, to hover around $23.38 in afternoon trading.

Wall Street's excitement reflects the huge business potential for a new Alzheimer's drug. While there are already medicines on the market that treat the disease, they treat only the symptoms. The drug Wyeth is working on would take treatment to another level. "If it works,'' Joseph Camardo, senior vice president of global medical affairs, said during a healthcare conference earlier this year, "it's going to be a huge leap.''