Benzinga | Nov 16, 2021 01:20PM EST

Europe OKs Biogen's Vumerity For Multiple Sclerosis

* The European Commission has approved Biogen Inc's (NASDAQ:BIIB) Vumerity (diroximel fumarate) to treat adults with relapsing-remitting multiple sclerosis (MS).

* Vumerity is next-generation fumarate with the established efficacy and well-characterized safety of Tecfidera (dimethyl fumarate).

* The approval was also based on findings from the EVOLVE-MS-2 Phase 3 study to evaluate the gastrointestinal (GI) tolerability of Vumerity compared to Tecfidera.

* The rate of overall treatment discontinuation was lower in participants treated with Vumerity than those treated with Tecfidera (1.6% compared to 6%, respectively).

* Price Action: BIIB shares are down 3.24% at $263 during the market session on the last check Tuesday.