Health, biotech firms target cancer
By Justin Wiser, CBS.MarketWatch.com
Last Update: 1:11 PM ET May 19, 2001
WASHINGTON (CBS.MW) -- Biotechnology companies and drug makers developing cancer treatments stand to benefit immensely from new breakthroughs in science and genomics, according to a Barron's article Saturday.
Bristol-Myers Squibb (BMY), the pharmaceutical leader in oncology, is spending millions on genomic research to find new ways to battle the cancer cell.
AstraZeneca (AZN), Biomira (BIOM) and Onyx Pharmaceuticals (ONXX) are also working on anti-cancer vaccines and compounds.
EntreMed (ENMD) and Genentech (DNA) are among 20 companies with anti-angiogenic drugs under development. These treatments seek to stop cancer by cutting off the blood supply to tumors.
Researchers at OSI Pharmaceuticals, ILEX Oncology (ILXO), Pharmacyclics (PCYC), MGI Pharma (MOGN), SuperGen (SUPG), and Tularik (TLRK) are working on advanced chemotherapy products.
While the incidence rate of heart disease, the country's biggest killer, is declining, the incidence of cancer is still rising. More than 1.2 million Americans will be diagnosed with the disease this year.
--------------------------------------------------------------------------------
Justin Wiser is a reporter for CBS.MarketWatch.com in Washington. |
