www.uppermichiganssource.com After Ishpeming’s Labor Day parade, union members and community members gathered at the Lake Bancroft Park for a picnic, family entertainment and a beer tent, manned by Senator Scott Dianda and two Democrat candidates. To learn more about donating to the ease efforts, click here.
IBD Industry Themes
Visit the IBD Store to get commenced.
IBD Industry Themes
Novartis Is Very first To Finish Line With CAR-T Cancer Drug Nod
Novartis was the very first to receive FDA approval for a CAR-T drug to treat cancer. (Denis Linine/Shutterstock)
- ALLISON GATLIN
- 8/30/2017
Novartis (NVS) was the very first drugmaker to cross the finish line in developing cancer treatments known as CAR-T drugs Wednesday after the Food and Drug Administration approved its drug, Kymriah, for children and adults with a type of bone marrow cancer.
X Autoplay: On | Off Kymriah, a cell-based gene therapy, was approved to treat patients up to age twenty five with what’s called B-cell acute lymphoblastic leukemia. Its approval is likely to set the stage for the FDA to approve a slew of CAR-T drugs over the next several years.
“We’re coming in a fresh frontier in medical innovation with the capability to reprogram a patient’s own cells to attack a deadly cancer,” FDA Commissioner Scott Gottlieb said in a news release following the approval. “Fresh technologies such as gene and cell therapies hold out the potential to convert medicine and create an inflection point in our capability to treat and even cure many intractable illnesses.”
The approval comes days after Gilead Sciences (GILD) announced its $11.9 billion plan to acquire Kite Pharma (KITE), which is also closing in on approval of a CAR-T therapy. In this treatment, immune cells are extracted from a patient and reprogrammed to fight cancer.
IBD’S TAKE: Biotech stocks broadly dipped in mid-August, but have since rallied to be up Two.3% this month. Could this be an inflection point needed to top an earlier chill outlined in IBD Industry Themes?
Analysts expect Kite’s drug to grab approval to treat an aggressive form of Non-Hodgkin lymphoma later this year. Analysts see Juno Therapeutics‘ (JUNO) drug getting approval next year, followed closely by Celgene (CELG) fucking partner Bluebird Bio (BLUE).
But by the closing bell on the stock market today, Novartis dropped 1.1% to 82.74, while Gilead spiked 7.3% to close at 81.23. Kite was at a relative standstill, down marginally to 177.90. Gilead’s takeover price reflects $180 per share of Kite stock.
Juno sank 8% to 40.29, but Bluebird popped 9.9%, near 112.50.
