Zacks.com Announces That Nadine Wong Highlights: Amgen and Abgenix
(Note:I tried to apply to get the article but because
they already have my email account they are not
responding to me. If anyone can retreive the article
please post here ... thanks.)
CHICAGO--(BUSINESS WIRE)--Dec. 5, 2005--Nadine Wong, editor of the BioTech Stock Report newsletter, says panitumumab is more than a "me too" drug. Learn why and discover Amgen (NASDAQ:AMGN) and Abgenix (NASDAQ:ABGX). Click here for the full story exclusively on Zacks.com: at.zacks.com
Highlights from the December 1 Featured Expert column by Nadine Wong include:
Thumbs Ups Abgenix
In early November, Amgen (NASDAQ:AMGN) and Abgenix (NASDAQ:ABGX) announced that a Phase III study of panitumumab met the primary endpoint of improving progression-free survival in patients with metastatic colorectal cancer.
Of the 463 patients in the trial, those who received panitumumab every two weeks showed a 46% decrease in tumor progression rate versus those who received best supportive care alone.
The 46% decrease surpassed the trial's primary endpoint, which aimed for a 33% decrease in tumor progression. A secondary endpoint of objective response rate was also met.
With this new data, panitumumab is more than a "me too" drug. Panitumumab will compete against ImClone/Bristol-Myer's Erbitux with dosing convenience, biweekly vs. once weekly administration and less infusion site reactions.
Amgen and Abgenix plan to submit panitumumab's BLA filing in the first quarter of 2006 with the anticipation of approval within six months.
It will be a transforming event for Abgenix.
Once panitumumab is marketed, Abgenix will receive 50% of worldwide profits from partner Amgen.
Panitumumab has the potential to capture 50% market share in front-line and third-line colorectal cancer.
The data from the PACE trial of panitumumab in front-line treatment, won't be available until 2009, but there is the potential of interim data along the way.
Besides, once ImClone and Bristol-Myers release positive results from their EPIC study in 2006, panitumumab will further its potential as a second-line colorectal cancer treatment.
Read Nadine Wong's complete commentary by clicking: at.zacks.com
About Zacks Featured Experts
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