Celgene Gains New FDA Approval for Abraxane

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Celgene (Nasdaq: CELG  ) announced today that the U.S. Food and Drug Administration approved use of Abraxane for first-line treatment of non-small cell lung cancer in combination with the chemotherapy drug carboplatin. The announcement follows a successful phase 3 study where Abraxane compared favorably against existing treatment options.

Abraxane was first approved in the U.S. in 2005 for the treatment of metastatic breast cancer after failure of combination chemotherapy.

Non-small cell lung cancer accounts for 87% of all lung cancer cases, according to information provided by the company.

Dr. Mark A. Socinski from the University of Pittsburgh served as the lead investigator for the Abraxane phase 2 and 3 lung cancer studies. The drug "offers an important new treatment option for all types of non-small cell lung cancer patients, in an area that has seen few treatment advancements in recent years," he said in a company press release.

Celgene has also submitted applications for use of Abraxane in Australia, Japan, and New Zealand. The company expects decisions by regulatory agencies in these countries in 2013.

Net product sales of Abraxane were more than $385 million in 2011. 

Keith Speights has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2055743, ~/Articles/ArticleHandler.aspx, 10/28/2016 5:52:37 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,161.19 -8.49 -0.05%
S&P 500 2,126.41 -6.63 -0.31%
NASD 5,190.10 -25.87 -0.50%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/28/2016 4:00 PM
CELG $103.90 Down -0.82 -0.78%
Celgene CAPS Rating: *****