Home Wealth  Money Pharma News: Medivation, Dendreon, GlaxoSmithKline

Pharma News: Medivation, Dendreon, GlaxoSmithKline

Posted: Nov. 4th, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

Medivation and Astellas Pharma said today the Independent Data Monitoring Committee has informed the partners of positive results from an interim analysis of a phase 3 trial of a treatment for advanced prostate cancer previously treated with chemotherapy.

The treatment, MDV3100, successfully met the study's interim efficacy stopping criteria, which was to demonstrate a clinically meaningful and statistically significant improvement in overall survival compared to a placebo, with patients surviving 4.8 months longer with the treatment than with placebo.

The committee suggested the trial can be stopped early, and the men who were given a placebo can be given the drug.

MDV3100 is the first androgen receptor signaling inhibitor.

Medivation (nasdaq: MDVN - news - people ) and Astellas said they will meet with the US Food and Drug Administration in early 2012 prior to submitting a new drug application, and will provide an update on regulatory timelines following the meeting.

Keep an eye on shares of Dendreon (nasdaq: DNDN - news - people ) today as well. The company reported earnings results late yesterday, and did not impress the markets with sales of its own prostate cancer treatment.

Dendreon said it lost $147.1 million, or $1 per share in the third quarter, compared to a loss of $79.3 million, or $0.56 per share, last year.

An adjusted loss of $0.56 per share was narrower than analysts expected.

Revenue more than tripled, to $64.3 million.

The company has said sales of its costly prostate cancer treatment Provenge were increasing more slowly than expected, even after Medicare agreed to cover the treatment.

Dendreon withdrew its earnings projections at the end of the summer, and did not offer new forecasts with its earnings report.

And, GlaxoSmithKline (nyse: GSK - news - people ) said today it has agreed to pay $3 billion in settlements to put to rest US investigations into its sales and marketing practices.

An agreement is expected to be full hammered out in 2012.

Market News Video produces and distributes online videos about stocks and investing.




Share on Facebook Share
See Next Article
Need to Get Away?
Top 10 Business Hotels
Who says you canít mix business with pleasure?
Read More
More Articles from Forbes.com

advertisement
Quick Links
Autos
Boating
Real Estate
Luxury Travel
Fashion
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
advertisement
Current News & Features
Here's Why the World's Hottest New Rum Brand Hails From Guatemala
Plan Your Perfect Day in Paradise at La Reserve de la Mala
Experiencing Tuscan-style Good Living and the Castello Banfi-Il Borgo Winery Estate
Alaska Discovery - Pre or Post Cruise
Kiki on the River in Miami is a Waterfront Aegean Paradise
The All-Electric Jaguar I-PACE Is About to Revolutionize the World of Electric Cars
Ralph Grizzle's Ultimate River Cruising Handbook: A Review
Finding Nirvana in Oregon's Wine Country and the Youngberg Hill Vineyards and Inn
Exploring Jungle Luxury in Costa Rica and a stay at Manuel Antonio's Tulemar Resort
Fine artist John Peralta "explodes" our most beloved machines to create elegant sculptural works
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE