Biotech Bonanza: Stocks to Watch at ASCO

Genentech always has a full plate of data at ASCO meetings and this year is no different. There will be more Avastin data on lung and colon cancer; combination data with Avastin and Tarceva, which Genentech co-owns with OSI Pharmaceuticals(OSIP); and new breast cancer data on Omnitarg, a pipeline drug that was recently resurrected by the company.

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For ImClone Systems(IMCL), this year's ASCO will once again be mostly about Erbitux. We'll get to see data from a phase III study of Erbitux and chemotherapy in first-line colon cancer patients. ImClone has previously told us the study is positive, with details to come during ASCO.

It will be tough for Erbitux to supplant Genentech's Avastin as the drug of choice in first-line colon cancer treatment, but strong data could very well cement Erbitux's place as a second-line therapy and help it overcome competition from Amgen's Vectibix.

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ASCO meetings are always a good venue for researchers and Wall Street to examine what might be next in cancer treatment. This year is no exception. Companies like Arqule(ARQL), Exelixis(EXEL) and Medarex(MEDX) are expected to showcase data on novel anti-cancer drugs.

Lastly, don't discount Big Pharma at ASCO. While the biotech sector has grabbed the lion's share of attention in recent years, the major pharmaceuticals firms are no longer laggards. GlaxoSmithkline(GSK) and Pfizer, to name just two, will make their presence felt at ASCO 2007 with data presentations on new cancer drugs.

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