were among the best-performing health-related stocks Friday, rising 18.3% after the cancer treatment Avastin met its primary endpoint of improving survival rates in patients with breast cancer.
The phase III trial, which was sponsored by the National Cancer Institute, enrolled 722 women with previously untreated metastatic breast cancer. Genentech said that it is still assessing the safety of the drug, but said that no new signals have been noted. Adverse events of this study appeared to be similar to previous clinical trials with Avastin in combination with chemotherapy in metastatic breast cancer, it said.
As a result of the positive data, the company plans to talk with the Food and Drug Administration about filing a supplemental biologics license application for Avastin plus chemo in first-line metastatic breast cancer. The FDA has already approved Avastin for use as a first-line treatment for metastatic colorectal cancer. Shares traded up $10.72 to $69.35.
Ventana Medical Systems
fell 4.2% after the company posted first-quarter results that were better than expected and forecast in-line 2005 results. The company earned $4.6 million, or 13 cents a share, on sales of $45 million. Analysts polled by Thomson First Call were expecting earnings of 11 cents a share on sales of $43 million. Looking ahead, Ventana forecast 2005 earnings of 75 cents a share on sales of $195 million to $197 million. Shares traded down $1.51 to $34.26.
traded actively after the company said its drug application for Terbinafine Hydrochloride tablets received tentative approval from the FDA. The tablets are the generic version of
Lamisil tablets, which have annual sales of roughly $655 million. Shares of Mylan traded down 39 cents, or 2.3%, to $16.86.
Other health-care volume movers included
, up 26 cents to $27.71;
, up $2.91 to $58.07;
, up 2 cents to $34.80;
, up 13 cents to $25.95;
, up 8 cents to $20.65;
Johnson & Johnson
, up 15 cents to $69.40;
, up 26 cents to $8.77;
, up 28 cents to $59.95; and
, down 10 cents to $4.02.