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Biotech / Medical : Biotech Valuation

CRSP 55.08

-2.9%

3:59 PM EST

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To: Icebrg who wrote (8713)	6/20/2003 6:47:14 PM
From: Icebrg	Read Replies (1) of 52153

Perhaps I should reclassify Tanox. U.S. FDA approves Genentech, Novartis asthma drug Friday June 20, 6:37 pm ET WASHINGTON, June 20 (Reuters) - The U.S. Food and Drug Administration (News - Websites) on Friday approved the sale of Xolair, the first biotechnology treatment for asthma. The antibody-based drug, given by injection once or twice a month, was developed by Genentech Inc. (NYSE:DNA - News), the world's second-largest biotechnology company, Novartis AG (NOVZn.VX), Europe's third biggest drugmaker, and small Houston-based biotech company Tanox Inc. (NasdaqNM:TNOX - News).

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