The markets are dancing with glee over Erbitux, the ImClone/Bristol-Myers cancer drug. ImClone and Bristol-Myers share prices both surged on news that the drug improved the survival rates of non-small cell lung cancer patients in a late-stage trial.
Shares in ImClone's European partner Merck KGaA also rose on the news, as analysts boosted predictions for European sales to $1.4 billion from $1.1 billion. The drug is already approved for sale in the U.S. and Europe for treatment of colon cancer, and head and neck cancer.
This new lung-cancer trial added Erbitux to a common European chemo regimen that includes vinorelbine and cisplatin. Two months ago, a similar-but-separate trial that combined Erbitux with taxane and carboplatin--two drugs commonly used in the U.S.--failed [1].
- check out ImClone's release [2]
- see this report [3] from MarketPlace
Related Articles:
ImClone names new CEO. Report [4]
ImClone shares dive after Erbitux fails a Phase III. Report [1]
Erbitux data underscores leaked disappointment. Report [5]
ImClone buoyed by new Erbitux data. Report [6]
ImClone touts survival rate in Erbitux cancer trial. Report [7]
Links:
[1] http://www.fiercebiotech.com/story/imclone-shares-dive-after-erbitux-fails-phase-iii/2007-07-12
[2] http://www.fiercebiotech.com/press-releases/press-release-imclones-erbitux-meets-primary-endpoint-increasing-survival-phase-iii-l
[3] http://www.marketwatch.com/news/story/imclone-surges-31-pre-market-positive/story.aspx?guid=%7B623ECC79%2D9DDC%2D45DA%2D9F8B%2D8AA6E173A81E%7D\
[4] http://www.fiercebiotech.com/story/imclone-names-new-ceo/2007-08-10?utm_medium=nl&utm_source=link
[5] http://www.fiercebiotech.com/story/erbitux-data-underscores-leaked-disappointment/2007-06-04
[6] http://www.fiercebiotech.com/story/imclone-buoyed-by-new-erbitux-data/2007-04-17
[7] http://www.fiercebiotech.com/story/imclone-touts-increased-survival-rate-in-erbitux-cancer-trial/2005-11-16