Navigation Links
18-Month Extension of Reimbursement Rates for Radioimmunotherapies Becomes Law After Congressional Override of Presidential Veto
Date:7/15/2008

SEATTLE, July 15 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTA: CTIC) announced that Congress today passed the Medicare Improvements for Patients and Providers Act of 2008, which includes an 18-month extension of the 2007 reimbursement rate for radioimmunotherapies such as Zevalin(R) (Ibritumomab Tiuxetan), overriding President Bush's veto.

The bill was originally passed by the U.S. House of Representatives on June 24, 2008 and by the U.S. Senate on July 9, 2008. Last December, Congress froze reimbursement rates at the 2007 level for six months after the Centers for Medicare & Medicaid Services (CMS) released rates for 2008 that were lower than the acquisition cost for radioimmunotherapies.

Manufacturers of radioimmunotherapies have been in discussion with CMS on a payment policy that more accurately reflects hospital costs associated with the therapy. These drugs are used to fight relapsed non-Hodgkin's lymphoma (NHL), and can provide some patients with additional therapeutic options.

CTI purchased the U.S. sales, marketing, and development rights to Zevalin in late 2007 from Biogen Idec, Inc. Recently CTI reached an agreement with Bayer Schering Pharma, which has rights to Zevalin outside the United States, for access to pivotal trial data from the First-line Indolent Trial (FIT), which can potentially be used to expand the label in the U.S.

About Zevalin(R)

Zevalin(R) (Ibritumomab Tiuxetan) is a form of cancer therapy called radioimmunotherapy and is indicated as part of the Zevalin therapeutic regimen for treatment of relapsed or refractory, low-grade or follicular B-cell non-Hodgkin's lymphoma, including patients with rituximab refractory follicular NHL. It was approved by the FDA in February of 2002 as the first radioimmunotherapeutic agent for the treatment of NHL.

Rare deaths associated with an infusion reaction symptom complex have occurred within 24 hours of rituximab infusions. Yttrium-90 Zevalin administration results in severe and prolonged cytopenias in most patients. Severe cutaneous and mucocutaneous reactions have been reported. The most serious adverse reactions of the Zevalin therapeutic regimen were primarily hematologic, including neutropenia, thrombocytopenia, and anemia. Infusion-related toxicities were associated with pre-administration of rituximab. The risk of hematologic toxicity correlated with the degree of bone marrow involvement prior to Zevalin therapy. Myelodysplasia or acute myelogenous leukemia was observed in 2 percent of patients (8 to 34 months after treatment). Zevalin should only be used by health care professionals qualified by training and experience in the safe use of radionuclides.

Patients and healthcare professionals can visit http://www.zevalin.com for more information.

About Cell Therapeutics, Inc.

Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products. For additional information, please visit http://www.CellTherapeutics.com.

Sign up for email alerts and get RSS feeds at our Web site, http://www.CellTherapeutics.com/investors_news.htm

This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results. Specifically, the risks and uncertainties that could affect the development of Zevalin include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general and with Zevalin in particular including, without limitation, the potential failure of Zevalin to prove safe and effective for treatment of non-Hodgkin's lymphoma, determinations by regulatory, patent and administrative governmental authorities, competitive factors, technological developments, costs of developing, producing and selling Zevalin, and the risk factors listed or described from time to time in the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's most recent filings on Forms 10-K, 8-K, and 10-Q. Except as may be required by law, CTI does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

Media Contact:

Dan Eramian

T: 206.272.4343

C: 206.854.1200

E: media@ctiseattle.com

http://www.CellTherapeutics.com/media.htm

Investors Contact:

Ed Bell

T: 206.282.7100

F: 206.272.4434

E: invest@ctiseattle.com

http://www.CellTherapeutics.com/investors.htm

Medical Information Contact:

T: 800.715.0944

E: info@askarm.com


'/>"/>
SOURCE Cell Therapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Medarex Announces Extension of Broad Antibody Development Relationship with Centocor
2. Baxter and Novation Sign Multi-Year Contract Extension Valued at Over $200 Million for Medication Delivery Products
3. Sysmex America Awarded MedAssets Supply Chain Systems Hematology Contract Extension
4. AMDL Announces Filing of Extension on Third Quarter 2007 Form 10-QSB
5. Sinovac Requests Extension for Annual Shareholders Meeting
6. Healthcare Technologies Ltd. (NASDAQ: HCTL) Announces Extension of Letters of Intent to Acquire Majority Interest in Two Ethanol Plants
7. Genta Granted Extension to Achieve Compliance with NASDAQ Listing Requirements
8. Resverlogix Share Option Extension
9. Lixte Biotechnology Holdings Announces Extension of Its Cooperative Research and Development Agreement With The National Institute of Neurological Disorders and Stroke, National Institutes of Health, for Development of Anti-Brain Cancer Drugs
10. SENOMYX ANNOUNCES EXTENSION OF DISCOVERY AND DEVELOPMENT COLLABORATION WITH CADBURY PLC
11. Campbell Alliance Managed Markets Practice to Take Leadership Role at CBIs Formulary and Reimbursement Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... N.C. (PRWEB) , ... June 27, 2016 , ... ... commercial operations for Amgen, will join the faculty of the University of ... as adjunct professor of strategy and entrepreneurship at UNC Kenan-Flagler, with a focus ...
(Date:6/27/2016)... June 27, 2016   Ginkgo Bioworks , a ... engineering, was today awarded as one of the ... the world,s most innovative companies. Ginkgo Bioworks is ... the real world in the nutrition, health and ... directly with customers including Fortune 500 companies to ...
(Date:6/24/2016)... 24, 2016 Epic Sciences unveiled a ... susceptible to PARP inhibitors by targeting homologous recombination ... The new test has already been incorporated into ... cancer types. Over 230 clinical trials ... pathways, including PARP, ATM, ATR, DNA-PK and WEE-1. ...
(Date:6/24/2016)... ... June 24, 2016 , ... Researchers at the Universita Politecnica delle ... people with peritoneal or pleural mesothelioma. Their findings are the subject of a new ... , Diagnostic biomarkers are signposts in the blood, lung fluid or tissue of mesothelioma ...
Breaking Biology Technology:
(Date:4/28/2016)... First quarter 2016:   , Revenues amounted ... quarter of 2015 The gross margin was 49% (27) ... the operating margin was 40% (-13) Earnings per share ... operations was SEK 249.9 M (21.2) , Outlook   ... M. The operating margin for 2016 is estimated to ...
(Date:4/15/2016)... , April 15, 2016  A new partnership ... more accurate underwriting decisions in a fraction of ... competitively priced and high-value life insurance policies to ... With Force Diagnostics, rapid testing (A1C, ... data readings (blood pressure, weight, pulse, BMI, and ...
(Date:3/31/2016)... Florida , March 31, 2016 ... ) ("LegacyXChange" or the "Company") LegacyXChange ... potential users of its soon to be launched online ... ( https://www.youtube.com/channel/UCyTLBzmZogV1y2D6bDkBX5g ) will also provide potential ... use of DNA technology to an industry that is ...
Breaking Biology News(10 mins):