J&J Cancer Drug Gets European Approval

European drug regulators have approved Johnson & Johnson's new prostate-cancer treatment Zytiga for men whose disease has progressed after chemotherapy.

US regulators have approved a ground-breaking treatment for advanced prostate cancer that uses a patient's own immune system to fight the disease, officials said Thursday.The US Food and Drug Administration (FDA) said the treatment called Provenge is designed for use by men in the advanced stages of prostate cancer, whose illness has spread to other parts of the body and is resistant to standard hormone treatment.

ByEmerging Equities:According to research firm RNCOS, the number of newly diagnosed global cancer cases is expected to reach over 17 million by 2020. The U.S. is the largest market for cancer drugs. Increasing Prevalence Calls for New Treatment Options

By Peter Geschek: Zytiga In its first full year on the market, in 2012, Johnson & Johnson's prostate cancer medicine Zytiga generated $961 million in revenues which make it a "near blockbuster". (A drug is considered blockbuster above $1 billion in sales).Zytiga is the most successful oral oncology drug launch in history. It is now approved in 65 countries and helped a huge number of men everywhere.

ByEmerging Equities:These are exciting times for Johnson & Johnson (JNJ) with FDA product approvals setting the stage for higher growth. Recently the FDA approved Johnson & Johnson's drugs Zytiga for prostrate cancer, Invokana for type 2 diabetes, and Invega for schizophrenia.

The Burrill Report submits: A U.S. Food and Drug Administration advisory panel has voted against expanding the use of GlaxoSmithKline’s (GSK) Avodart, its treatment for enlarged prostate, to include reducing the risk of prostate cancer in men at risk for the disease. The panel voted 14 to 2 against.

The Burrill Report submits: Shares of Affymax (AFFY) tumbled 65 percent on news that despite a set of late-stage trials of its anemia drug Hematide that showed it was not inferior to Amgen’s (AMGN) Epogen or Aranesp, a subgroup of pre-dialysis patients had a statistically significant increase in cardiovascular events.

By Smith On Stocks: Investment Conclusion