Healthcare Business Recap: Lilly Wins FDA Approval, Proposed Geron / BiOTime Deal
Eli Lilly and Company (NYSE:LLY) has received FDA approval for its lung cancer treatment Alimta, as the agency now says that patients may receive the drug as a maintenance therapy subsequent to first-line treatment. Phase III data was cited, that represents the first of its kind that exhibits better overall survival advantages with continued maintenance.
The Aegerion Pharmaceuticals (NASDAQ:AEGR) drug lomitapide wins the okay of an FDA advisory panel, voting 13 to 2 to recommend that the full agency approve the medication for treating very high cholestoral in patients suffering a rare genetic disease named homozygous familial hypercholesterolemia, which can lead to early demise. The FDA should make its decision by the end of December.
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Biogen IDEC (NASDAQ:BIIB) sees the FDA extend its evaluation of the multiple-sclerosis pill BG-12 by three months, but no additional studies were requested. Last week, Biogen reported that new data supplied more evidence of the med’s effectiveness in patients suffering with relapsing-remitting MS.
Shares of Geron Corporation (NASDAQ:GERN) jump following BioTime’s (AMEX:BTX) issuance of an open letter to the former’s shareholders proposing a deal between the two firms. A portion of the proposal would permit Geron shareholders to own as much as 45 percent of a new publicly traded entity that would own the latter’s stem cell assets.