IDPH--Positive preliminary results for pivotal trial of ID Message Board

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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID

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To: Skywatcher who wrote (1690)	9/9/1999 1:21:00 PM
From: Jeter C. Hall	Read Replies (1) of 1762

News from the wires... Idec CEO Says $80 Mln Estimate for Q3 Rituxan Sales Too High New York, Sept. 9 -- Idec Pharmaceuticals Corp. Chief Executive William Rastetter said estimates that sales of the cancer drug Rituxan would reach $80 million this year were ''high.' Shares of Idec and Genentech Inc., which helps Idec market the drug, tumbled after his comment, made at an investor conference in New York. Idec fell 30 11/16, or 22 percent, to 106. Genentech fell 6 to 169. Shares in San Diego-based Idec have soared more than seven- fold since October, as sales of its Rituxan treatment for non- Hodgkins lymphoma exceeded company and analyst forecasts. Rituxan, which Idec developed with Genentech Inc., was introduced in October 1997. Last year it had sales of $162.6 million, a record for a cancer treatment in its first year on the market. Genentech, the world's No. 2 biotech company, is majority owned by Swiss drugmaker Roche Holding AG. Sep/09/1999 12:05

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