Street Yawns at Genentech Quarterlies

Fake Avastin missing active ingredient

(NEWSER) - A fake version of best-selling anti-cancer drug Avastin has been found in the US. Swiss drugmaker Roche has warned doctors and hospitals to be on the lookout for the counterfeit medication, which lacks the intravenous drug's active ingredient, the Wall Street Journal reports. Samples of the fake drug are still being analyzed, but "it's not Avastin, it's not safe and effective, and it shouldn't be used," warns a company spokeswoman. More»

Genentech won't be seeking US approval anytime soon

(AP) - Avastin, the blockbuster drug that just lost approval for treating breast cancer , now looks disappointing against ovarian cancer, too. Two studies found it did not improve survival for most of these patients and kept their disease from worsening for only a few months, with more side effects. The Genentech drug won approval in Europe last week for advanced ovarian cancer. But its maker has no immediate plans to seek the same approval in the US. More»

Says drug does not help patients live longer

(NEWSER) - The FDA is moving to revoke its approval of Avastin for the treatment of advanced-stage breast cancer, concluding that the drug doesn't help patients live longer, reports the Washington Post . Regulators took their initial steps yesterday against Avastin, which is the best-selling cancer drug in the world but also one of the most expensive: The 17,500 breast cancer patients who take it each year spend about $8,000 per month to do so. More»

Avastin's effects on early-stage disease don't meet expectations

(NEWSER) - Clinical trials to determine the drug Avastin’s effects on early-stage colon cancer were a big disappointment for drug firm Genentech, the New York Times reports. The drug, which is typically used in late-stage cancer, didn’t significantly cut the recurrence rate among 2,700 subjects in the early stages, Genentech said. A successful study could have meant billions more yearly for the firm. More»

(NEWSER) - Swiss drug giant Roche has succeeded in its quest to own biotech firm Genentech outright, and will purchase the 44% of shares it does not already own for $95 each, the San Francisco Chronicle reports today. The $46.8 billion deal comes after months of haggling, wherein Roche offered as little as $86.50 for shares Genentech valued at $112. Roche pledges to maintain Genentech’s San Francisco campus. More»