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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: former_pgs who wrote (16754)	5/11/2005 11:45:12 AM
From: Ian@SI	Respond to of 52153

DJ News selected preview of ASCO... Targeted Cancer Treatments Focus of ASCO Meeting By Jennifer Corbett Dooren and Greg Groeller Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Drugs that specifically target cancer cells will be the focus of the American Society of Clinical Oncology's annual conference in Orlando, Fla., which starts Friday. Targeted therapies are considered the next generation of cancer drugs. Unlike chemotherapy, targeted cancer drugs avoid killing healthy cells by choking off blood supply or cell signals that cancer cells need to grow. Investors are awaiting data on several targeted therapies and their effects on a range of cancers. Presenting research will be companies such as Novartis AG(NVS), ImClone Systems Inc. (IMCL), GlaxoSmithKline PLC (GSK) and Genentech Inc.(DNA), which is partly owned by Swiss-based Roche Holding AG(RHHBY). The annual ASCO conference is closely watched by Wall Street because of the sheer volume of clinical data presented. "It is the most important cancer conference of the year for doctors, patients and investors as well," said Le Anne Zhao, a Caris & Co. analyst. Particular attention will be paid to data released on several Genentech drugs. Last year, the FDA approved Genentech's Avastin as a targeted colon-cancer treatment in combination with chemotherapy. At the ASCO meeting, researchers will be presenting additional information on Avastin for use in treating breast and lung cancer. The National Institutes of Health - which released preliminary information in recent weeks on Avastin - is also scheduled to present data on Herceptin, another Genentech drug for use in treating women with a certain type of early- stage breast cancer. Further, Genentech and Roche are expected to present data on Tarceva for use in treating pancreatic cancer. Tarceva, which was approved by the FDA last year to treat a type of lung cancer, is also marketed in the U.S. with OSI Pharmaceuticals, Inc. (OSIP). In fact, some analysts say the Genentech data - particularly research concerning Avastin - will be among the highlights of this year's ASCO meeting. "Avastin will be of particular interest this year in light of recent positive news in advanced breast cancer and (lung cancer)," Matt Geller, an analyst at CIBC World Markets, said in a research note. Geller does not own shares of Genentech. It could not immediately be determined if CIBC has an investment-banking relationship with the company. GlaxoSmithKline will be presenting Phase II data on its experimental drug lapatinib in treating breast cancer. The drug works by targeting two areas needed for cancer growth, unlike other target drugs on the market which inhibit one area. Novartis, along with its partner Schering AG (SHR), will present data on PTK/ZK, formerly known as PTK787, for use in treating patients with advanced colon cancer in combination with chemotherapy drugs. Novartis also will be presenting data on its breast cancer treatment Femara compared to tamoxifen, as well as data on its targeted-drug Gleevec in treating a rare type of gastrointestinal tumors. Pfizer Inc. (PFE) is scheduled to release information on Sutent in treating several types of cancer including kidney, GI and breast cancer. Results on Pfizer's Camptostar in treating colon cancer will also be presented. Also scheduled for release is data showing whether colon cancer patients respond well to a combination of Imclone's Erbitux targeted treatment and chemotherapy. Bristol-Myers Squibb Co. (BMY) markets and distributes Erbitux. -By Jennifer Corbett Dooren, Dow Jones Newswires; -By Greg Groeller, Dow Jones Newswires;