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Biotech / Medical : Biotech Valuation

CRSP 56.93

+0.1%

11:45 AM EST

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To: Icebrg who wrote (8368)	5/15/2003 4:16:52 PM
From: Icebrg	Read Replies (1) of 52153

Another drug heading towards approval. US FDA panel backs asthma drug Xolair Thursday May 15, 4:01 pm ET GAITHERSBURG, Md., May 15 (Reuters) - A U.S. advisory panel on Thursday supported the injectable drug Xolair for treating asthma, the airway disease that afflicts millions of Americans. The panel voted unanimously that Xolair's benefits outweighed its risks. Xolair is being developed by Genentech Inc. (DNA), Novartis AG (NOVZn.VX) and Tanox Inc. (TNOX). So much for the cancer "scare" and doubts expressed about efficacy in the briefing papers. Now Genentech and partners will just have to find a way to sell the drug. I believe I saw somewhere that it will cost 1.000 USD per month to use it. Erik

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