Cancer Drug Rituxan Approved As Arthritis Treatment
Posted on: Thursday, 2 March 2006, 18:00 CST
By The Associated Press
BOSTON -- The approval of the nation's top-selling cancer drug as a new treatment for rheumatoid arthritis could lead to further uses for Rituxan, which is being studied for other autoimmune disorders such as lupus.
An industry analyst said Wednesday that Rituxan's use for diseases other than cancer could make it a key long-term growth product for the two biotechnology companies behind the drug, Genentech Inc. and Biogen Idec Inc.
Rituxan's prospects are particularly important for Cambridge, Mass.-based Biogen Idec, which is seeking to recover from its withdrawal last year of a multiple sclerosis drug because of safety concerns.
Limited data about Rituxan's non-cancer uses and restrictions on its rheumatoid arthritis indication are expected to limit its near- term market potential, Jason Kantor of RBC Capital Markets said in a note.
"However, we believe as more data becomes available in RA and other autoimmune diseases such as lupus, Rituxan could achieve billion (dollars-per-year) potential in non-cancer indications," Kantor wrote.
Biogen Idec and South San Francisco-based Genentech said the U.S. Food and Drug Administration had approved Rituxan for treating RA patients for whom other, older drugs don't work.
Source: Daily Breeze
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