Gilead Sciences, Pharmasset and Roche

Share this article:

Gilead Sciences agreed to pay almost $11 billion for biotech firm Pharmasset, which is developing an all-oral therapy for treating hepatitis C virus. Dubbed PSI-7977, the drug just entered Phase III testing, and analysts say it could become the preferred option for care if it works without the injectable drug interferon, which has flulike side effects.

The FDA said Friday that it was revoking its approval of Roche's Avastin (bevacizumab) for breast cancer after concluding that it has not been shown to be safe and effective for that use. Avastin will remain on the market for certain types of colon, lung, kidney and brain cancer, said FDA commissioner Margaret Hamburg. Doctors can still prescribe it off-label for breast cancer, but insurers may no longer pay for the drug, which costs $88,000 a year. Medicare said it would still provide coverage for that use.

Share this article:
You must be a registered member of MMM to post a comment.
close

Next Article in Business Briefs


Reimagining healthcare? We want to hear about it.
 
Submit nominations here for MM&M's first-ever list of the Top 40 Healthcare Transformers

Email Newsletters

MM&M inVISION

More in Business Briefs

Novartis said to be stepping out of HCV

Novartis is said to have relinquished rights to an investigational hep. C treatment, signaling its exit from the therapeutic space, according to a former partner's announcement.

Monday Moves: September 15

Hires and promotions for manufacturers, regulatory and agencies

Kantar acquires Evidências, expands Brazilian presence

The company's acquisition signals the growing importance of understanding the Brazilian healthcare market and evidence-based healthcare management services.