Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: virgil vancleave who wrote (525)	12/3/1997 5:45:00 PM
From: Jeffers Hughes	Read Replies (1) \| Respond to of 998

FYI [ Business \| US Market \| Industry \| IPO \| S&P \| International \| PRNews \| BizWire \| Finance Home ] Tuesday December 2, 6:25 pm Eastern Time Chiron hopes for early '98 ALS drug OK NEW YORK, Dec 2 (Reuters) - Chiron Corp Chief Executive Officer Edward Penhoet said on Tuesday that his company and co-marketer Cephalon Inc (Nasdaq:CEPH - news) are more optimistic that their drug Myotrophin for amyotrophic lateral sclerosis (ALS), or Lou Gehrig's disease, will be approved by the U.S. Food and Drug Administration (FDA) in early 1998. ''We think the possibility of getting approval early next year is substantially enhanced over what it was a few months ago,'' said Penhoet, speaking to investors at the BancAmerica Robertson Stephens Medical Conference. ''We've made really good progress with the FDA in the last few months,'' he said. In early November, Chiron and Cephalon withdrew their application for approval and resubmitted it, thus buying up to six months more for FDA review. An FDA advisory panel rejected approval of the drug in May. The companies were urged to conduct another major trial, but initially, they refused. Penhoet said he is optimistic for approval for two reasons. New analysis of the data further supports Myotrophin's utility, he said. And, said Penhoet, now the FDA modernization act urges the agency to accept one major trial as proof of a drug's efficacy and safety. The market for Myotrophin is likely to be ''several hundred million dollars'' annually, Penhoet said. In the near future, Chiron also expects FDA approval of Regreanex (PDGF), a wound healing drug for diabetics to be co-marketed with Johnson & Johnson (NYSE:JNJ - news), which should address a $150-to-200 million market. Proleukin, already used for kidney cancer, should be approved for malignant melanoma, said Penhoet, adding that he expects sales of $100 million for that drug in 1998. DepoCyt, a drug for neoplastic meningitis that was co-developed with DepoTech, will be reviewed by an FDA advisory panel in mid-December and should also be approved, he said. More Quotes and News: Cephalon Inc (Nasdaq:CEPH - news) Chiron Corp (Nasdaq:CHIR - news) Johnson & Johnson Inc (NYSE:JNJ - news) Related News Categories: biotech, health, medical/pharmaceutical Help Copyright c 1997 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon Important Disclaimers and Legal Information Questions or Comments?