UPDATE: Genentech, Roche Say Tarceva, Avastin Combo Works
February 03 2009 - 2:18AM
Dow Jones News
Genentech Inc. (DNA) and Roche Holding AG (ROG.VX) said a study
examining the potential benefits of combining cancer drugs Tarceva
and Avastin was stopped early because it became clear that people
with lung cancer who received the treatment lived longer without
their cancer getting worse, compared to those who received Avastin
alone.
Genentech, based in South San Francisco, CA, and Roche, based in
Basel, said this was the second late-stage study that demonstrated
the benefits of daily pill Tarceva as an initial maintenance
therapy, following inital treatment with Avastin. Genentech sells
both drugs in the U.S., while Roche has the right to sell them in
other markets. Avastin is one of the companies' fastest-growing
products.
Shares of Genentech and OSI Pharmaceuticals Inc . (OSIP), which
are selling Tarceva in the U.S. rose in after-hours trading Monday
after Genentech gave details of the findings. Roche shares closed
at CHF163.50 on Monday.
The Swiss drugmaker plans to take full control of Genentech,
which developed many of the successful cancer drugs that are
driving Roche's growth.
Last Friday, Roche launched a hostile bid to buy the roughly 44%
of the U.S. biotech company that it doesn't already own, after its
earlier friendly offer was rejected.
Company Web Site: http://www.roche.com
-By Anita Greil, Dow Jones Newswires; +41-43-4438044;
anita.greil@dowjones.com
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