Monday, October 6, 2008

OSI anti-cancer drug reports problems

OSI Pharmaceuticals Inc. of Melville and Genentech Inc., its partner in an anti-cancer drug, said Monday a combination of Genentech's Avastin and OSI's Tarceva failed in a study to prolong the lives of patients with the most common form of lung cancer.

OSI, Long Island's best-known pharmaceutical company, and San Francisco-based Genentech, said in a statement, however, that the combined drugs did help keep non-small-cell lung cancer under control, which was a secondary goal of a clinical trial.

Additionally, the companies said, there was an improved response rate among those patients given the two treatments, compared with those given Tarceva alone.

"We are disappointed this study did not show an improvement in survival for patients with advanced lung cancer who have a poor prognosis and a disease that is extremely difficult to treat," Hal Barron, Genentech's senior vice president, said in a statement. Genentech is majority owned by Roche Holding AG, the world's largest maker of drugs to treat tumors.

"We are however, encouraged to see the combination of Avastin and Tarceva had clear evidence of biological activity, and we'll fully analyze the data so that we can apply the insights to our ongoing lung cancer research," Barron said.

He said also that the results of the study "do not affect Avastin or Tarceva's approved indications in advanced non-small cell lung cancer."

Avastin is used to treat lung, colon and breast cancer. Tarceva was approved to treat lung cancer in 2004.

Genentech and OSI market Tarceva in the United States.

In July, OSI said that worldwide sales of its Tarceva drug helped boost revenues and profits in the second quarter. Total worldwide sales of Tarceva were about $292 million in the quarter, a 37 percent increase over the same period a year ago.

Shares of OSI fell $1.65 or 7 percent Monday, closing at $20.50. Genentech was down $6.91 or 8 percent Monday, closing at $80.62.

No comments: