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DailyFinance: Darwin's Finance explains why the normal correlation between gold and the dollar has broken down.
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And speaking of which, The Intelligent Speculator figures out a new way to protect against inflation.
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Which ... Read more
Biogen Idec (BIIB) and Genentech, Inc., a wholly-owned member of the Roche Group (RHHBY.PK), announced that they have received a complete response letter (CRL) from the U.S. Food and Drug Administration (FDA) for Rituxan. The companies were seeking approval for the use of Rituxan (rituximab) plus fludarabine and cyclophosphamide (FC) in patients with previously untreated [...]
Biogen Idec (BIIB) and Genentech, Inc., a wholly-owned member of the Roche Group (RHHBY.PK), announced that they have received a complete response letter (CRL) from the U.S. Food and Drug Administration (FDA) for Rituxan. The companies were seeking approval for the use of Rituxan (rituximab) plus fludarabine and cyclophosphamide (FC) in patients with previously untreated and treated chronic lymphocytic leukemia (CLL).
Although the companies did not provide any details regarding the letter, they said that the agency has not asked them to submit any new data. Genentech and Biogen intend to work towards gaining final approval for the expanded indication and are planning to continue final label discussions with the FDA.
Rituxan is currently approved for the treatment of rheumatoid arthritis and non-Hodgkin’s lymphoma (NHL), a type of cancer. It contributes significantly to Biogen’s top line. Biogen receives a profit-split on U.S. sales of Rituxan from Genentech, plus a royalty on international sales and reimbursement on development work. In 2008, the company recognized $1,128 million (up 22%) in Rituxan revenues. To keep the solid growth up, both companies are working to expand Rituxan beyond its current use.
According to the American Cancer Society, CLL is the most common form of adult leukemia, accounting for one-third of all leukemia in the United States. About 90,000 Americans are living with CLL and it is estimated that more than 15,000 new cases will be diagnosed this year. Current treatments for CLL include Cephalon’s (CEPH) Treanda, GlaxoSmithKline’s (GSK) Leukeran and Bayer’s (BAYRY.PK) Campath.
Cusick’s Corner
Shorts seem to be on the defensive, especially after the G20 said that they will continue to provide Viagra, I mean stimulus (read summary below). This current rally is being scrutinized, checking if this is a short squeeze or if there is potentially more traction gaining in sectors that have ...
This week we have the honor of hosting the 166th edition of the Festival of Stocks. According to the festival’s original sponsor, ValueInvestingNews, “The Festival of Stocks is a blog carnival dedicated to highlighting bloggers’ best articles on stock market related topics. This will include research and commentary on specific stocks, industry analysis, ETFs, REITs, [...]
Companies featured in this segment: Enbridge Incorporated (NYSE:ENB), Rio Tinto Alcan Primary Metal, Rio Tinto (NYSE:RTP), Cephalon Incorporated (NASDAQ:CEPH), Orissa Mining Corporation Limited, Vattenfall AB of Stockholm, Scottish and Southern Energy plc (LON:SSE), and Progress Energy Incorporated (NYSE:PGN).
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