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Dow Jones Article "Celgene Says Pancreatic Cancer Drug Improves Survival" (PI von Hoff "We're ecstatic that we have a new treatment for patients")Celgene Corporation : Celgene Says Pancreatic Cancer Drug Improves Survival11/09/2012| 06:17pm US/EasternBy Joseph Walker Celgene Corp. (CELG) said a late-stage study of its drug Abraxane significantly improved the lifespans of patients with pancreatic cancer, one of the deadliest and hardest-to-treat diseases. The company said it plans to submit the drug for approval in the U.S., Europe and elsewhere. "It's a real landmark study that shows increased survival," said Daniel Von Hoff, the study's lead principal investigator and physician in chief at the Translational Genomics Research Institute. "We're ecstatic that we have a new treatment for patients with pancreatic cancer." The study compared Abraxane in combination with the current standard chemotherapy, gemcitabine, versus gemcitabine alone. The combination therapy showed a statistically significant improvement in overall survival, meeting the study's primary endpoint, the company said, although it didn't report the specific number. The average survival improvement of gemcitabine is between 5.6 months and 6.8 months, said Dr. Von Hoff. The company will present additional data at a medical conference in January. The drug's safety profile was comparable with previous trials of Abraxane, which is approved for use in multiple cancers, including melanoma. Investors had been anxiously waiting for the study data in hopes that it could fill a void in new drugs for the disease. "If it does work, it's a big deal," said Eric Schmidt, a Cowen & Company analyst, in a recent interview. "There's not a lot of real good therapies out there." Shares rose 4.9% to $75 after hours Pancreatic cancer represents just 2.1% of new cancer patients, but it represents one of the most fatal types of cancers. Just 5.5% of pancreatic cancer patients live for five years, Celgene said. Write to Joseph Walker at Joseph.Walker@dowjones.com
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