Among the headliners at the upcoming meeting of the American Society of Clinical Oncology are details on the eye-opening success of Genentech Inc.'s vascular endothelial growth factor drug Avastin (bevacizumab) in Phase III trials for metastatic colorectal cancer and long-awaited word regarding scandal-plagued ImClone System Inc.'s cancer drug Erbitux. But that's hardly all.
Aiming to forge deeper into the cancer market, Amgen Inc. is taking from its well-stocked coffers to buy 21.3 percent of Tularik Inc. - $35 million worth of newly issued stock at $10 per share - as part of a deal that includes an oncology collaboration and a total of $125 million in committed funding. (BioWorld Today)
Bringing a new treatment option for patients with the fast-killing blood cancer multiple myeloma, Millennium Pharmaceuticals Inc. won FDA approval of the proteasome inhibitor Velcade (bortezomib) and plans to launch it next week. (BioWorld Today)
What a difference a year makes. Or not.At this point in 2002, ICOS Corp. had just received word from the FDA that its erectile dysfunction drug candidate Cialis (taladifil), partnered with Eli Lilly and Co., was approvable if three issues were cleared up. (See BioWorld Financial Watch, May 6, 2002.)
