FDA approves Amgen's Vectibix

FDA approved Vectibix panitumumab from AMGN to treat metastatic colorectal cancer in patients who have failed chemotherapy. The company plans to launch the human anti- EGFR antibody in early-to-mid-October at a price of $8,000 per month, which AMGN said is about 20% lower than that of the other anti-EGFR antibody on the market. The company said an average 17-week course of treatment will cost $32,000. ImClone (IMCL), Bristol-Myers (BMY) and Merck KGaA (FSE:MRK) market anti-EGFR antibody Erbitux cetuximab.

AMGN also said that in October, it will launch the Amgen Oncology Assistance program to financially assist U.S. cancer patients. The program will include a cap that will limit total patient co-payments for Vectibix regardless of income or insurance status. Once the cap of 5% of adjusted gross income is reached, a patient would be eligible for the Safety Net Foundation, which provides AMGN cancer drugs at no cost. ...