Celgene’s Budding Blockbuster Abraxane Scoops Pancreatic Cancer Indication
This article was originally published in The Pink Sheet Daily
Abraxane sales have been growing fast as Celgene has added new indications. Pancreatic cancer had been an off-label use prior to the new approval.
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In back-to-back deals with AstraZeneca and Juno, Celgene has fronted nearly $1.5 billion to become a serious contender in the field of cancer immunotherapy, and is looking to lead in blood cancers.
The biotech has a three-pronged strategy to double revenues by 2017: continue to expand core multiple myeloma product Revlimid, bring new blockbusters online, and develop its early stage pipeline through deals.
Abraxane more than doubled two-year survival and conferred a near-two-month overall survival advantage against pancreatic cancer compared with standard of care gemcitabine alone in the Phase III MPACT trial, presented Jan. 25 at the American Society of Clinical Oncology Gastrointestinal Cancers Symposium in San Francisco. Celgene plans global regulatory filings by mid-2013.