Washington (dbTechno) - The U.S. Food and Drug Administration has approved the Genentech drug Avastin for treatment of advanced breast cancer. This FDA approval is a huge victory for Genentech as well as the advancement in the fight against breast cancer.
Avastin has already been approved to treat many types of cancers, including colon and lung cancer.
A U.S. biotechnology company revealed a week ago that a study on Avastin showed that it was very effective against breast cancer. It managed to allow patients to live longer lives without their breast cancer getting any worse.
Genentech saw shared jump 9% following the announcement that the FDA has approved the drug.
It was believed by many that the FDA would delay their decision on Avastin based on new data which had just recently come in.
This is big news for Genentech though, as an FDA advisory panel rejected Avastin for breast cancer last December. They stated that the toxicity risks outweighed the benefits. The vote was only by a slim margin to reject it though, and new studies have shown it is beneficial.
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