Healthcare Business Review: Roche’s Trial RESULTS, Idenix Survives FDA HOLD
A Phase III trial indicates that Roche Holding Ltd’s (RHHBY.PK) breast cancer drug T-DM1 “significantly” extended the lives of patients, which is a precondition for European regulators’ approval of the treatment. The company is developing T-DM1 with licensed tech from ImmunoGen, Inc. (NASDAQ:IMGN), whose shares moved up on the day. One analyst figures that peak sales of T-DM1 might bring 1.6 billion Swiss francs, or $1.67 billion.
Medtronic’s (NYSE:MDT) Protect evaluation indicates the long-term safety of drug-eluting coronary stents, which slowly release a medication that disallows cell proliferation. The trial was the largest ever for such products, and it utilized Medtronic’s Endeavor stent along with Johnson & Johnsons’s (NYSE:JNJ) Cypher to test for stent thrombosis, which can occur when a blood clot forms inside the stent.
Shares of Idenix Pharmaceuticals Inc. (NASDAQ:IDIX) dropped sharply but ended up on the day, following the verbal notice of a FDA clinical hold being placed on IDX19368, the firm’s next-generation nucleotide polymerase inhibitor which is under development for the treatment of hepatitis C virus infection.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.