Roche, Pfizer win FDA nods for targeted cancer drugs

Roche ($RHHBY) and Genentech won a landmark approval for the cancer drug vismodegib today. After gaining significant efficacy data from a Phase II study on basal cell carcinoma, the drug giant not only went straight to the regulators for a decision, but also won the approval well ahead of the agency's deadline. And top regulators signaled that they would look kindly on other developers who take the same approach to targeted therapeutics. The FDA nod comes on top of another targeted-drug approval Friday, for Pfizer's ($PFE) advanced kidney cancer drug axitinib, which will be marketed as Inlyta. Article | Report