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Biotech / Medical : Biotech Short Candidates

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To: tuck who wrote (516)	5/15/2003 4:18:34 PM
From: tuck	Read Replies (1) of 897

Thanks to those who kept me away from shorting TNOX: >>GAITHERSBURG, Md. (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. (NYSE:DNA - News), Novartis AG (NOVZn.VX) and Tanox Inc. (NasdaqNM:TNOX - News). The companies are seeking Food and Drug Administration (News - Websites) approval to sell Xolair for preventing asthma flare-ups and controlling symptoms in patients with moderate to severe cases of allergic asthma that are not adequately managed with inhaled steroids. The agency usually approves drugs recommended by its advisory panels. Some analysts think that if approved, Xolair would generate annual sales of up to $750 million by 2008. Others are less optimistic. Clinical trials showed Xolair could prevent worsening of severe asthma, but the data also suggested the drug may raise cancer risk, FDA reviewers said. No definitive link between Xolair and cancer has been established, the FDA reviewers said. Genentech officials told the panel the data did not suggest Xolair caused the cancers. << Cheers, Tuck

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