The FDA and Johnson & Johnson (JNJ): What to do when patients die

New studies show that widely used cancer drugs can increase death rates in some patients. According to The New York Times, the FDA "is planning to convene an advisory committee on March 13 to discuss whether to impose further restrictions on the use of the drugs, Aranesp from Amgen (NASDAQ: AMGN) and Procrit from Johnson & Johnson (NYSE: JNJ), with cancer patients."

One of the things the FDA is considering is putting new warning labels on the drugs, but is that enough?

New studies show that the two drugs can increase the risk of clots and may actually cause some tumors to grow.

It is always a difficult question to ask, but how much of this did the drug companies know? Lehman Brothers estimates that a cutback in the use of the Amgen drug could cost the company $1 billion a year. News of bad clinical and research results often send pharma stocks down.

While the drugs may be effective for some treatments, they clearly cause risks in others. Amgen and Johnson & Johnson shareholders are just going to have to live with that.

Douglas A. McIntyre is an editor at 247wallst.com.