June 27, 2007 |
Abbott Laboratories Inc. and Genentech Inc. will collaborate to develop and eventually sell two Abbott cancer drugs now in early stages of human testing, the companies said. The drug makers did not disclose financial terms of the global deal, under which they will work together on all aspects of further development of the drugs discovered by Abbott, known as ABT-263 and ABT-869. They will co-promote the drugs in the U.S., with Abbott marketing them overseas.
June 5, 2007 |
Genentech Inc. said a charged-up version of its Herceptin drug for breast cancer shrank tumors in patients who failed to respond to other therapies. Four out of 10 patients had their tumors shrink during a study, with minimal side effects, when taking a version of Herceptin linked to chemical toxins, researchers said at the American Society of Clinical Oncology meeting in Chicago. The combination is in the first of three phases generally needed for U.S. marketing approval.
May 2, 2007 |
Genentech Inc. and Biogen Idec Inc. said their Rituxan cancer drug proved highly effective against multiple sclerosis in a small mid-stage trial, signaling a potential new way of treating the progressive neurological disease. The biotechnology companies said the Phase II trial involved 104 patients with the most common "relapsing-remitting" form of multiple sclerosis -- in which patients have varying levels of recovery and periods of remission between flare-ups of the autoimmune disease.
April 12, 2007 |
Genentech Inc. said Wednesday that first-quarter profit surged 68%, helped by sales growth of its cancer medicine Avastin and cost controls. The world's second-largest biotechnology firm said sales of its new eye disease drug, Lucentis, were $211 million in just its third full quarter on the market, but that amount was $6 million short of the previous quarter. Analysts had expected Lucentis to bring in $212 million to $220 million in the first quarter.
March 24, 2007 |
Genentech Inc. said Friday that researchers had halted a trial of its second-biggest cancer drug and that first-quarter sales had stalled. The clinical trial of the drug, Avastin, was stopped in patients with a form of lung cancer after two patients developed holes in their gastrointestinal tract and windpipe. One patient died, Genentech spokeswoman Kristina Becker said. Avastin, already approved for colon cancer and a more common form of lung cancer, generated $1.
February 22, 2007 |
Genentech Inc. said Wednesday that it lost a ruling on a patent that generates an estimated $300 million a year in royalties from companies using the technology to make cancer and rheumatoid arthritis treatments. The U.S. Patent and Trademark Office rejected Genentech's so-called Cabilly II patent based on a reexamination requested by MedImmune Inc. and another party. Genentech's patent covers methods used in producing antibody-based therapies.
January 30, 2007 |
U.S. regulators requested additional information about Genentech Inc.'s proposed acquisition of Tanox Inc., delaying the $919-million transaction. The companies said they expected the review to extend beyond the first quarter and the deal, Genentech's first acquisition, to close during the first half of this year. The companies had originally expected approval from the Federal Trade Commission by the end of March.
January 27, 2007 |
Genentech Inc. said Friday that it warned doctors that Lucentis, a treatment for the leading cause of blindness among the elderly, may increase risk of stroke. Patients taking the highest dose of Lucentis to treat macular degeneration had a 1.2% risk of stroke, four times the risk of a lower dose, according to a letter to doctors from Genentech. Lucentis has been Genentech's most successful product introduction.
January 16, 2007 |
Shareholders of Tanox Inc. on Monday approved the small biotechnology company's acquisition by drug maker Genentech Inc. Under the terms of the sale, Genentech, based in South San Francisco, would buy Houston-based Tanox for $919 million, or $20 a share. The share price is a premium of 47% over Tanox's closing price the last trading day before the deal was announced in November. The stock had traded between $11.55 and $21 in the year before the offer was announced. Shares closed Friday at $19.
December 14, 2006 |
Genentech Inc.'s Avastin medicine prolonged the lives of patients with a form of recurrent or advanced lung cancer by two months, according to a study to be published today in the New England Journal of Medicine. The median survival time of patients who received Avastin in addition to chemotherapy was 12.3 months, compared with 10.3 for those getting just the chemicals, researchers said.