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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (1881)	9/11/2007 12:47:53 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 3722

Bernard; RGEN will apparently not participate on those results, since the claims it had with MIT against IMCL & BMY were settled for some 65M instead of going to trial.<g> There's that <g> again! Perhaps RGEN is just establishing danegeld with BMY - and of course others? <smile> steve

To: Jibacoa who wrote (1881)	10/3/2007 2:50:46 PM
From: Jibacoa	Read Replies (1) \| Respond to of 3722

Every time there are good news about IMCL I feel sorry for the time Martha spent behind bars.<g> ImClone Shares Rise on Label Update Wednesday October 3, 12:44 pm ET ImClone Systems Shares Rise on FDA Approved Label Update for Cancer Drug Erbitux NEW YORK (AP) -- Shares of biotechnology company ImClone Systems Inc. rose Wednesday after the Food and Drug Administration approved an update to the labeling of its cancer drug Erbitux. Shares of ImClone Systems rose $1.79, or 4.3 percent, to $43.81 in midday trading. The stock has traded between $26.28 and $47.22 over the last 52 weeks. Erbitux is approved to treat colon cancer in patients who have previously failed chemotherapy treatment with irinotecan and oxaliplatin. It is sold with partner Bristol-Myers Squibb. The FDA approved the addition of improved survival data for patients taking the drug. Erbitux is the key competitor to Amgen Inc.'s Vectibix, which has seen sales slip over the last quarter. In March, Amgen ended a Phase III clinical trial combining the drug with Genentech's Avastin to treat colon cancer. The data showed that the combination worsened progression of colon cancer rather than diminished it. Rodman & Renshaw analyst Michael G. King Jr. reaffirmed a "Market Outperform" rating with a $55 price target, saying the move was not surprising based on Erbitux's effectiveness in a third line setting. "Erbitux continues to hold its ground against Vectibix in mCRC (metastatic colon cancer)," he said. Meanwhile, Goldman Sachs analyst May-Kin Ho reaffirmed a "Buy" rating with a $45 price target. "We believe the label revision would enhance Erbitux's competitiveness against Amgen's Vectibix in refractory CRC (colon cancer), although the increase in sales should be modest," she said. Shares Bristol-Myers rose 59 cents to $29.42 and shares of Amgen fell 11 cents to $55.93 in morning trading. bigcharts.marketwatch.com Bernard