Market Updates
ImClone Soars 28% on Positive Drug Results
Elena
11 Sep, 2007
New York City
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ImClone Systems and Bristol-Myers Squibb announced Tuesday that a Phase III study of the drug Erbitux along with chemotherapy increased the survival rate of lung cancer patients in a late-stage study. In the month of July, the two pharmaceutical companies said the drug failed a separate late-stage study focusing on lung cancer, with Erbitux combined with taxane and carboplatin.
[R]8:30AM ImClone Systems and Bristol-Myers Squibb released positive results for Erbitux in lung cancer.[/R]
ImClone Systems ((IMCL)) and Bristol-Myers Squibb ((BMY)) announced Tuesday that a Phase III study of the drug Erbitux along with chemotherapy increased the survival rate of lung cancer patients in a late-stage study. In the month of July, the two pharmaceutical companies said the drug failed a separate late-stage study focusing on lung cancer, with Erbitux combined with taxane and carboplatin.
The drug, already approved to treat colon cancer and head and neck cancer, was given to patients with advanced non-small cell lung cancer in combination with chemotherapy treatment including vinorelbine and cisplatin. The study compared the combination to chemotherapy alone. Erbitux is co-promoted in North America with Bristol-Myers.
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