The FDA just approved the first direct competitor to a billion-dollar cancer drug (ROG.VX, AMGN)

REUTERS/Karoly Arvai The FDA just approved a version of Avastin, a blockbuster chemotherapy made by Genentech that brought in $ 6.7 billion in sales in 2016.  The newly approved drug, made by Amgen, will go by the marketed name Mvasi. It’s a type of medication called a “biosimilar.”  Biosimilars are a bit more complicated than your average […]

The Supreme Court just issued a big win for new drugs that could save the US billions (NVS, AMGN)

REUTERS/Kevin Lamarque WASHINGTON — The US Supreme Court on Monday cut the time it will take for copycat versions of biologic drugs — known as biosimilars — to get to the market in a pivotal ruling about an expensive class of medicines that can yield billions of dollars in sales for drug companies. The justices, in […]

Amgen is getting whacked after disappointing study results for its $14,000 heart drug (AMGN)

Shutterstock WASHINGTON (Reuters) – Amgen’s Repatha drug cut the risk of heart attacks and strokes by over 20 percent in patients with heart disease, demonstrating a clear clinical benefit beyond its ability to slash “bad” LDL cholesterol levels, data from a huge study known as Fourier showed on Friday. Results from the highly anticipated 27,564-patient […]