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Butt ugly day...
Is this the same firm developing the CML T3xxx mutation test for Ariad for Pona?? Just trying to connect the dots...
http://finance.yahoo.com/news/Molecular-Response-Expands-bw-3796239069.html?x=0&.v=1
FDA Approves Roche, Daiichi Sankyo Melanoma Treatment
I would not take this news lightly as it relates to Ariad. Like Ariad, they went after a mutation, as Ariad is undertaking with TWO of it's compounds.. '113 might be a better comparison by percent of patiens with the mutation....
The drug stops a mutated gene called BRAF from its usual work of driving the proliferation of cancer cells. About half of metastatic melanoma patients have the mutation.
FDA Approves Roche, Daiichi Sankyo Melanoma Treatment Article By Jared A. Favole
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The U.S. Food and Drug Administration on Wednesday granted early approval to Roche Holding AG's (RHHBY, ROG.VX) targeted melanoma drug, vemurafenib.
Vemurafenib, from Roche and Daiichi Sankyo Co. Ltd. (4568.TO ), belongs to an emerging class of treatments that target the molecular underpinnings of their cancer. These therapies offer the opportunity for significantly more effective treatment for patients who test positive for a genetic mutation driving the proliferation of their cancer cells. Patients would take the drugs only after a genetic test showed they have the mutation.
The drug stops a mutated gene called BRAF from its usual work of driving the proliferation of cancer cells. About half of metastatic melanoma patients have the mutation. In clinical trials, the drug decreased the risk of death among this subset of patients by 64% compared with people using the standard chemotherapy. Almost 50% of the patients taking the pills saw their tumors shrink, compared with 5.5% who received chemotherapy. Some patients taking vemurafenib during clinical trials experienced side effects such as fatigue and joint pain, prompting doctors to lower their dose.
Roche holds world-wide commercial rights to vemurafenib, which will be sold under the brand name Zelboraf, though it will co-promote the drug in the U.S. with Daiichi Sankyo. For Roche, the approval adds to the company's arsenal of cancer treatments. Roche's three big therapies--Avastin, Herceptin and Rituxan--account for 35% of its $47.8 billion total revenue and have helped drive its 30% share of the world-wide cancer market, according to Morningstar.
Roche could use a new product with an estimated $1 billion in peak yearly sales. Tight budgets could force governments, including Medicare in the U.S., to limit the prices paid for cancer drugs. Also, the FDA wants to take away Avastin's approval for use in end-stage breast cancer patients, which would hurt U.S. sales. Early this year, Roche lowered its annual sales forecast for Avastin to seven billion Swiss francs, or $7.5 billion, from eight to nine billion Swiss francs.
-By Jared A. Favole, Dow Jones Newswires; 202-862-9256; jared.favole@dowjones.com
-Roche says most patients will take the drug for 6 months
-Roche says 6-month treatment will cost about $56,400
-Roche will co-promote the drug with Daiichi Sankyo
(Updates with details about cost in the 4th paragraph and adds comments from Roche and cancer expert beginning in the 3rd paragraph.)
By Jared A. Favole and Jonathan Rockoff
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The U.S. Food and Drug Administration granted early approval Wednesday to Roche Holding AG's (RHHBY, ROG.VX) targeted melanoma drug, vemurafenib.
Vemurafenib, from Roche and Daiichi Sankyo Co. Ltd. (4568.TO ), belongs to an emerging class of treatments that target the molecular underpinnings of their cancer. These therapies offer the opportunity for significantly more effective treatment for patients who test positive for a genetic mutation driving the proliferation of their cancer cells. Patients would take the drugs only after a genetic test showed they have the mutation.
The company hailed approval of the drug, which will be sold under the brand name Zelboraf. "The FDA approval of Zelboraf marks a major step forward in personalizing the treatment of metastatic melanoma, a devastating disease that until this year had limited approved treatment options," said Dr. Hal Barron, chief medical officer at Roche.
Most patients will take Zelboraf for about six months at an estimated cost of $56,400, the company said in a statement.
The drug stops a mutated gene called BRAF from its usual work of driving the proliferation of cancer cells. About half of metastatic melanoma patients have the mutation. In clinical trials, the drug decreased the risk of death among this subset of patients by 64% compared with people using the standard chemotherapy.
The results "takes your breath away if you're a melanoma doc," said Anna Pavlick, director of the melanoma program at the New York University Cancer Institute who participated in vemurafenib's clinical trials. For four decades, she said, skin cancer patients whose tumors had spread to their lymph nodes and other organs were forced to rely on treatments like chemotherapy that often failed. Last year, about 8,700 Americans died from the disease.
Almost 50% of the patients taking the pills saw their tumors shrink, compared with 5.5% who received chemotherapy. Some patients taking vemurafenib during clinical trials experienced side effects such as fatigue and joint pain, prompting doctors to lower their dose.
Roche holds world-wide commercial rights to vemurafenib though it will co-promote the drug in the U.S. with Daiichi Sankyo. For Roche, the approval adds to the company's arsenal of cancer treatments. Roche's three big therapies--Avastin, Herceptin and Rituxan--account for 35% of its $47.8 billion total revenue and have helped drive its 30% share of the world-wide cancer market, according to Morningstar.
We are up to 67% INST. Ownership.
BTH, you may have missed the boat.. There is going to be some shock and awe coming out of the EU tomorrow, to be followed by QE3 here.. They have no choice..
That's plain silly selling tonight. I'm waiting for the cramer uplift tomorrow to lighten up..
That's exactly what I'm thinking... 50 cents..
Jim Cramer just said he recommends Ariad for speculative accounts! He hit the BULL Button. Booya!
Orbmed sold all intheir filing today..
Oh, would I really like to see a $10 print today..
Seems like after each of the investment analyst's meetings with Ariad's senior management (in private), over and over again, the analyst give very little value to Rida.. In Merrill's case, the DCF only values the Rida franchise of $1. If you listen to Harvey, the royalites for Rida should be quite large. Who's right? One of them is making the wrong assumptions it seems.
I also appreciate many of BTH's posts here. Very tuned in..
Actually, Chinese reported numbers are notorious for being under reported when they are bad.. The 7% growth reported for GDP was probably only 3% using Western accounting standards..
CAT does not make the world go around, imho..
China has raised rate and margin requiremensts 7 times, and the growth has slowed a bunch. Every government that raises rates that fast, ALWAYS and I mean ALWAYS overshoots, and will slow their economy too much, just as the US and EU exports are going to fall off a cliff. Call this a worldwide coordinated recession..
It's really to late to re-stimulate the world economy. Even if the world leaders could pull off a coordinated effort, it will not reach the real economy in time. Even the WSJ pole just announced that QE3 is on the way, it will not be in the real economy for at least 6 months. This will unwrap the Euro. The EU has purchased 10% of the outstanding greek bonds, or $75 billion (US) worth. That's all. Now to purchase that amount of Italian bonds (10%) is $250 Billion dollars (US). This isn't going to work. All this talk of new hiring is in the rear view mirror. Look at the economic numbers in the next three quarters.
Even the CAT CEO on CNBC now is jumping up and down about the jobs he has created over the last two quarters.. He hasn't a clue on what's just ahead, just as the Pimco guy (Tony)was trying to point out to him...
Yes, I'm worried about my Ariad investment with that background..
What's to answer? Read what he said.. You certainly don't need my comments.. I'll stick with the NASDAQ dates
Recent quartely GDP in france is at zero, greece, down 7%, the UK down, China loan growth lowest in the last 7 months. USA will print a less than 1% GDP in Q3. Can Ariad withstand this pressure??
Thank the good Lord that this happend NOW, and not four years down the road.. This is the kick in the pants that Mr. Market delivered which will bring attention to the matter.. We still may drop another 2,000 DOW points before it's over, but we will get through this like we have in every other MAJOR challenge.
Dow futures up a net +126, so maybe they heard you.. Asia not bad..
Unfortunately none of those things will create jobs. Corporations will just raise dividends and buy back stock. There has to be a program to create jobs..
Up another +$.17 AH... Reminds me of the good old days.. (not that long ago!..)
The scary thing is that during the next election cycle, we are going to elect people to offices where they have no business in being there, simply because they pushed out an incumbent.
Boom Boom Room will now need padding on the walls...
Oil down $6.50 stunning..
Back down again.. Margin calls big time.. 1080 S&P
RhinoHurtt, you action confirms the bottom..thanks.. Dow now up +210 from the low..
DOW is up +170 points from the low.. It has just started..
Where would Ariad be with the S&P at 900? At the rate we are going, we only have 7 more days of trading left!
Watch it all change by 3:00 PM.................
Sell on any rally into the 11's. This is busted until nov-dec..
2damoon1, you may want to bring your iPhone...
We don't have LEAPS..YET.. Eventually, we will..
Well, at this rate, we only have 9 more trading days to go..
Futures falling off a cliff again.. At least we are going to drive oil much, much lower..
Barton Biggs, oh lordy.. He has been on the Barron's roundtable for 25 years, and has now been off for 5 years (thank the Lord). Big Dufas.. Really, really wrong. He's like a 80 year old Cramer..
iandy, I'll let you do the math:
Trade flow analysis shows that $2,616,239 worth of shares were bought and $99,593 worth of shares were sold by institutional investors
Not going to hold 10 at this rate
Being destroyed by the market.. Ouch!
BTH, you are wrong as usual.. trying to distort what I stated..