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Bonds Are a 'Safe' Investment: A Big Lie Gets Even BiggerThat the FDA has granted accelerated approval to Genentech (NYSE: DNA) for Avastin for the treatment of patients with breast cancer is not just big news for the company, but great news for women around the world in their fight against the dreaded cancer.
"There is no cure for metastatic breast cancer, so it is important to control the disease as early and for as long as possible," said Kathy Miller, M.D., Associate Professor of Medical Oncology, Indiana University School of Medicine and lead investigator on the E2100 trial. "Now with Avastin plus Paclitaxel, we can increase the time a woman's cancer is kept under control, and offer a biologic option to women who previously were limited to chemotherapies alone."
"As an oncologist who has treated women with metastatic breast cancer, I know how important the first course of therapy can be," said Susan Desmond-Hellmann, M.D., M.P.H., president, Product Development, Genentech. "New treatments are needed, and this approval provides women who have not yet received chemotherapy for their metastatic breast cancer a new option to consider with their physician and families."
According to the American Cancer Society, an estimated 178,000 women were diagnosed with breast cancer, and approximately 40,000 died from the disease in the U.S. in 2007.
The news should give a big boost to Genentech stock. The company, once a high flyer in the biotech industry, has had slowing growth drag down the stock. Now with the potential of Avastin, this could potentially add another 10% a year to revenues, a huge number.
I wonder if trying to cure breast cancer is something that Michelle Obama would be proud of?
Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer has no position in any stock mentioned as of 2/23/08.
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Reader Comments (Page 1 of 1)
2-25-2008 @ 2:15PM
gumbo koontz said...
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