Biotech Drug May Halt Brain Tumors

A small drug trial conducted by Duke University indicates that Avastin,now approved for the treatment of lung,breast and colon cancer,may lengthen the lives of some brain cancer patients.Avastin works by blocking the nutrients and oxygen which sustain malignant tumors.Eighty percent of the 35 patients in the trial experienced a doubling of expected survival to at least six months,while 50% of them had a halting of new tumor growth.In at least one case,complete remission occurred.Typically,patients with the type of cancer,glioblastoma,live only three months with conventional chemotherapy.The combination of Avastin with another drug,irinotecan,must be further evaluated in a larger trial to get approval.If it does,more insurance companies will cover the treatment.Avastin is produced by Genentech,a San Francisco Bay area biotech firm.The drug is extremely expensive,running into six figures for a full course of treatment.Genentech(DNA) sometimes provides free drugs or caps treatment costs.The company's stock has been battered by Wall Street analysts,who obsessively track the career of every medication.The slightest setback for one drug reinforces the stock's range-bound status.Ultimately,this can mean fewer dollars supporting the firm's critical research,as investors are scared away.Nonetheless,many analysts consider Genentech a good long-term investment.It has a long list of drugs and prospects in various stages of development and approval.Another company with a battered stock,Rite Aid Corporation(RAD),has been living up to its name.The Camp Hill,Pennsylvania pharmacy chain provided free sunscreen,lip balm and hand sanitizers to victims of the Southern California wildfires.It also donated 100,000 dollars to the American Red Cross for the victims.Along with other retailers,Rite Aid has heavily promoted a wide range of Halloween merchandise this year,while inserting a number of Christmas items in this week's circular as well.Rite Aid,which is led by CEO Mary Sammons,is dealing with its recent acquisition of Eckerd and Brooks drugstores.