Active Biotech falls on laquinimod opinion

Active Biotech AB (SSE:ACTI) fell SEK34.90 (46%) to SEK41.10 on Friday after EMA's CHMP recommended against approval of an MAA from partner Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) for Nerventra laquinimod to treat relapsing-remitting multiple sclerosis (RRMS). CHMP said laquinimod's benefits in RRMS patients do not outweigh the potential risks. The committee said laquinimod slowed the worsening of disability but had a "modest" effect on relapse and that the long-term risk of cancer with laquinimod could not be excluded. Teva and Active Biotech plan to request a reexamination. ...