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Thousand cancer specialists on head at the annual American Society of Clinical Oncology conference this week and asked coach a big one always is showcasing showcasing the latest in the battle against cancer so we make headlines.
With a lot of drug makers every year Novartis imclone and Genentech all of the news and from Barron's online were joined by John -- -- and from Fox Business contributor W thestreet.com -- Charles pain is with us as well.
I'll I'll begin with you John what stood out to you over the weekend if anything from this -- we should point out I guess is we talked about a -- a lot of the news came out.
Beforehand this year as opposed to past years.
Yes this year ask -- released abstracts from many.
Of the presentations -- not for the most awaited one planetary sessions.
And imclone was one of them -- and Cowen has the drug ever -- right streets colorectal cancer.
It was being tested.
As a first line treatment in the clinical trial results that were released over a little bit earlier than actually expected accidentally.
-- indicated showed that some people taking imclone plot outside people taking I would have three plus chemotherapy.
Survive for about a month about a month which was look this morning writing off Ohio little discouraged and disappointed some in the sense that it did not exceed.
The survival of the the survival time for people with -- came on advanced colorectal cancer being treated by the rival drug Avastin which is -- big cancer.
It pretty much -- -- is that Avastin is not -- replaced as an 888 top or popular.
Colorectal cancer plus interest to go well what is important is that forty to 50% of colorectal cancer patients.
I'm -- lung cancer patients which is what that.
The drug was being treatment was being tested on 40% of lung cancer patients cannot take.
On cannot use -- are out of form of the disease that can't be treated with a -- and what this on clinical trial showed.
Is that it's it's.
A potential -- market for and.
Okay that's interest in Charles -- you look at these from investing point of view you talk about it.
It imclone and or Genentech from what -- all out this weekend you by either one of these stocks is okay.
Like imclone because I've watched the stock take a lot of hits over the last couple years and bounce back relatively quickly the problem though the stock is range bound to have a whole lot of resistance for a 4546.
Looks like it's gonna open up around 45 today certainly listen to all of -- you know on balance.
It was pretty good news for the company as you can see that rooms -- resistance at the top -- we're just goes and you know that we won't go through it through the right -- what we know what fifty.
I think we have between 46 and fifty but I got to tell you -- -- obviously.
The real compelling stories that fact that you got the founder prisons though it.
In the stock is on the -- -- perhaps fulfilling all the early promise but I thought also the news -- Celebrex is very interesting because in other thing it might be chemo preventative drug.
For current and and and former cigarette smokers and you know that's it's too because bijur.
Has had a lot of problems than mr.
-- by nickel last time out.
And of course these Cox two inhibitors and had a whole lot of bad news of late so that was pretty good news -- -- -- effective.
-- a -- fives -- the other one is Novartis has said this drug that says supposedly significantly reduces.
A breast cancer coming back and people than -- he returned to what it was that big news that came out on the -- orchestra music was on a surprising finding.
This is also on the drug that's already on the market and it's it's used to treat bone damage from cancer right and what's very big right now I mean -- is a company that's you know struggling like a lot of big pharma companies are struggling.
They've got another drug that's being tested are being shown ads.
Asked that the kidney cancer but -- young.
-- -- that the phone.
The bone drug users was unexpected and it's it's definitely good news for -- -- could probably see I think.
You know some upside to the stock price yes and that's that's a time it's always about the surprise right of these events so that's something that -- -- helps Novartis did you like that company beforehand or you know look at that the partisan.
I'm really I'm I'm really have been afraid of the traditional drug makers in part because -- -- pipelines.
You know some of these -- blockbuster drugs and -- that have generic competition.
I'd like the bio -- a lot more.
In part also to because I believe a lot of -- and eventually be taken over by these larger pharmaceutical companies to have some sort of a pipeline.
To make up for those shortcomings also in the breast cancer from Bristol-Myers had -- is well.
Thought maybe you look at give -- -- from the outside the courtroom as well all right so you know Charles brings up I wonder about that that issue of consolidation from people you're talking to in the industry is.
Some of these smaller companies getting.
Bought out by some of the larger ones is something that's -- real on the horizon right now.
And it continues today.
Big drug companies need pipelines and some of them like fives are facing a steep cliff because you have aspirations of some major drugs seems like there's a bigger pipeline issue.
Recently than there has been infuse a lot of companies are facing some struggles on.
I'm very much so -- had companies like Merck that had recently in the last couple what you're seeing their major drugs.
Go -- lose their patents and sales you really start to decline you've had some safety issues.
That have robbed.
-- of of Vioxx sales it's also robbed GlaxoSmithKline its sales of its own once popular diabetes -- -- -- An -- -- though in the next few years you have five in particular.
Looking to look I'm expecting to lose sales of Lipitor which.
You -- of the huge portion of -- revenues these small drug makers both farmer and Biotech.
Have some interest and one interesting into interest in drugs that they're developing perhaps -- have a drug on the pipeline.
And pharma companies are willing to pay a premium to acquire in the hope that no one of these acquisitions will give them that drug that will.
Make up while the problem.
Anyone stuck in particular that looks attractive as nominal value on a takeover play Charles -- you ideally -- that actually well like perhaps something's gone on Genentech it won't quote was taken over years go by the way -- -- first publicly traded Biotech that was spun off.
And those that might be -- -- DNA is a symbol there they can be taken over as well I think.
What do you think American and obviously do tech isn't just tough -- like this and I've never had really any success with it.
You know you look at the market cap and all of these stocks did together on that dramatically.
It's it's hard to make the argument outside of the fact that periodically they look oversold that -- but worth buying.
The next big thing in this in this industry is what you know and we've gotten past Vasco now there's been some news coming out -- the next big thing we have to look up on the next big medical meeting is the American Diabetes Association which starts Friday.
-- in diabetes is a huge market and some estimates I've seen so -- in the next five years -- thirty billion dollar market.
A huge potential and emerging markets like China and India over the next ten or fifteen years.
Because of diet changes and just here in the United States the number of people being diagnosed with type two diabetes.
Is it's been called an epidemic.
Of new drugs better drugs.
That not only help people maintain their blood sugar level -- help deal with some of the other problems that diabetics have.
On helping diabetics better -- was with -- weight loss issues.
And on other problems like controlling what this.
Okay so look out for that and and thanks for all the info John on the news this weekend always is he coming out about them always we we have thank you take that kid will think it is up.
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