The firm's shares shot up 40% this morning after it announced that Avastin, which many analysts consider the most important drug in the company's pipeline, has been found to extend the lives of colon cancer patients.
Late last week, new data and a regulatory decision buttressed the outlook for medicines that Genentech (nyse: Full article >>>
the survival times of colon-cancer patients. Second, the patients lived even longer than researchers had hoped when designing the trial. Third, the only significant side effect to emerge in late-stage trials was high blood pressure. (Gastrointestinal bleeding is still listed as a possible, though uncommon, side effect.)
Those three pieces of information were enough to clear away skeptici......Full article >>>
Genentech's strategy may have been high risk, as some analysts said. But now the company looks poised to reap some big rewards.......Full article >>>
Source:wistechnology.com By Matthew Herper 05/19/03Related biology technology :1
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