FDA Wants More Data From Celgene
Regulators are requesting more information from Celgene (CELG) to support the biotech company's bid to get its leprosy treatment Thalomid approved for fighting blood cancer.
The Food and Drug Administration conditionally approved Celgene's application but said it wants to see updated safety information, additional patient data and revised product labeling before it makes a final decision.
Though Thalomid is FDA-approved specifically for treating leprosy, the majority of prescriptions for the drug are written for multiple myeloma, a progressive blood disease. The condition is a cancer of the plasma cell, a key part of the immune system that makes antibodies to help fight infection and disease.
Since the agency has already approved the drug for one indication, doctors are allowed by law to prescribe it for other purposes as they see fit, through what's known as "off-label" use.Celgene's application to market Thalomid for multiple myeloma was based on the results of a late-stage trial comparing the drug in combination with the steroid dexamethasone to dexamethasone alone in previously untreated multiple myeloma patients. "Based on ongoing discussions with the FDA we expect to complete our responses to these requests quickly," said Dr. Graham Burton, senior vice president of Celgene's regulatory affairs. Thalomid, more commonly known as thalidomide, can cause severe birth defects if it's taken during pregnancy, and it's capable of leading to potentially severe, permanent nerve damage. The drug was approved for treating leprosy in 1998. Originally, thalidomide was marketed as a sedative outside the U.S., and some women took it to alleviate morning sickness before it was linked with birth defects. Celgene shares were unchanged at $59.90 Tuesday.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV