My colleague Paul Kedrosky also
Instead of developing one drug that treats 20 million people relatively poorly and with a lot of side-effects, why not apply the genetics of disease --and the way different people respond to disease -- to discover dozens of drugs that treat smaller patient populations well and with fewer side-effects? Sure, the golden era of personalized medicine has yet to arrive, but Genentech's (DNA) breast cancer drug Herceptin is proof that such a model can be successful and profitable.
The biotech sector understands this, and my guess is that Big Pharma will follow. (This is a good reason for long-term investors to like the biotech sector.)
The FDA has more than Celebrex on its mind: The agency also must figure out what to do with AstraZeneca's (AZN - Get Report) lung cancer drug Iressa. On Friday, AstraZeneca said results from a large phase III study showed that Iressa does not confer a survival benefit to patients with advanced non-small-cell lung cancer.The FDA