Monthly Cash Machine Newsletter, Wednesday, 09/14/2005 11:33:57 AM ET
SEPTEMBER WATCH LIST - CELG TRADING HALT
by Steve Gail
HAVING TROUBLE PRINTING?
SEPTEMBER WATCH LIST - CELG
TRADING IN CELG HALTED PENDING FDA VOTE ON REVLIMID APPROVAL
An oncology drug advisory panel of the Food and Drug Administration is
scheduled to meet this morning to vote on whether the company's drug
Revlimid should be recommended for approval.
Celgene is seeking to have Revlimid approved for the treatment of
transfusion-dependant anemia due to certain myelodysplastic syndromes,
a group of blood cell cancers.
Although the panel's vote is not a final decision, the FDA
traditionally abides by the recommendation of its expert panels.
Celgene said a vote is expected by 12:30 p.m. Eastern time.
Celgene said that the FDA is scheduled to formally rule on whether to
approve Revlimid by October 7. The company already markets a version of
thalidomide called Thalomid, for the treatment of leprosy, and Alkeran,
a treatment for the cancer multiple myeloma. Celgene also receives royalties
on the attention-deficit drugs Ritalin and Focalin, marketed by Novartis.
We will advise you on any developments and adjustments that may have to be made
when it opens.