New Drug Proves Effective Against Blood Cancer

Thursday, 11 Jul 2013 12:27 PM

 

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Celgene Corp said a late-stage trial of its cancer drug Revlimid met the main goal of improving survival in newly diagnosed blood cancer patients, potentially opening up the path for a wider use of the drug.

The company's shares were up 4 percent at $129.75 in premarket trade.

Celgene said it will start discussions with regulators and plans to submit applications in the United States, Europe and other markets.

Revlimid is Celgene's flagship blood cancer drug and is already approved for use in previously treated multiple myeloma, mantle cell lymphoma and transfusion-dependent anemia caused by myelodysplastic syndromes - a blood disorder.

The late-stage study tested the oral drug in patients with newly diagnosed multiple myeloma, and showed a statistically significant improvement in survival without the cancer worsening.

Multiple myeloma is the second most commonly diagnosed blood cancer. It starts in the plasma cells in the bone marrow and ultimately disrupts the production of normal blood cells.

The American Cancer Society estimates there will be about 22,350 new cases diagnosed in 2013 and about 10,710 deaths.

The evaluation of safety and efficacy was ongoing and the results will be presented at an upcoming medical meeting, Celgene said.

Revlimid brought in sales of about $1 billion for the first quarter. The approval for mantle cell lymphoma came in early last month.

© 2014 Thomson/Reuters. All rights reserved.

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