FDA approves new targeted breast cancer drug

WASHINGTON (AP) — The Food and Drug Administration has approved a first-of-a-kind breast cancer medication that targets tumor cells while sparing healthy ones.

The drug Kadcyla from Roche combines the established drug Herceptin with a powerful chemotherapy drug and a third chemical linking the medicines together. The chemical keeps the cocktail intact until it binds to a cancer cell, delivering a potent dose of anti-tumor poison.

Cancer researchers say the drug is an important step forward because it delivers more medication while reducing the unpleasant side effects of chemotherapy.

"This antibody goes seeking out the tumor cells, gets internalized and then explodes them from within. So it's very kind and gentle on the patients — there's no hair loss, no nausea, no vomiting," said Dr. Melody Cobleigh of Rush University Medical Center. "It's a revolutionary way of treating cancer."

Cobleigh helped conduct the key studies of the drug at the Chicago facility.

The FDA approved the new treatment for about 20 percent of breast cancer patients with a form of the disease that is typically more aggressive and less responsive to hormone therapy. These patients have tumors that overproduce a protein known as HER-2. Breast cancer is the second most deadly form of cancer in U.S. women, and is expected to kill more than 39,000 Americans this year, according to the National Cancer Institute.

The approval will help Roche's Genentech unit build on the blockbuster success of Herceptin, which has long dominated the breast cancer marketplace. The drug had sales of roughly $6 billion last year.

Genentech said Friday that Kadcyla will cost $9,800 per month, compared to $4,500 per month for regular Herceptin. The company estimates a full course of Kadcyla, about nine months of medicine, will cost $94,000.

FDA scientists said they approved the drug based on company studies showing Kadcyla delayed the progression of breast cancer by several months. Researchers reported last year that patients treated with the drug lived 9.6 months before death or the spread of their disease, compared with a little more than six months for patients treated with two other standard drugs, Tykerb and Xeloda.

Overall, patients taking Kadcyla lived about 2.6 years, compared with 2 years for patients taking the other drugs.

FDA specifically approved the drug for patients with advanced breast cancer who have already been treated with Herceptin and taxane, a widely used chemotherapy drug. Doctors are not required to follow FDA prescribing guidelines, and cancer researchers say the drug could have great potential in patients with earlier forms of breast cancer

Kadcyla will carry a boxed warning, the most severe type, alerting doctors and patients that the drug can cause liver toxicity, heart problems and potentially death. The drug can also cause severe birth defects and should not be used by pregnant women.

Kadcyla was developed by South San Francisco-based Genentech using drug-binding technology licensed from Waltham, Mass.-based ImmunoGen. The company developed the chemical that keeps the drug cocktail together and is scheduled to receive a $10.5 million payment from Genentech on the FDA decision. The company will also receive additional royalties on the drug's sales.

Shares of ImmunoGen Inc. rose 2 cents to $14.32 in afternoon trading. The stock has ttraded in a 52-wek range of $10.85 to $18.10.

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Secret Vatican Dossier for 'Pope's Eyes Only'

Feb 25, 2013 9:05am

ROME – Pope Benedict XVI decided to keep secret the contents of an investigative report on the “Vatileaks” scandal, ruling that the only person who will get to see it will be the next pope.

The top secret dossier details the findings of an internal investigation the pope launch last April into the so-called Vatileaks affair, in which Benedict’s former butler leaked confidential documents stolen from the papal chambers.

Italian newspapers have claimed — without attribution — that the investigation revealed a sex and blackmail scandal inside the curia.

The Vatican spokesman today underscored that the contents of the dossier are known only to the pope and his investigators, three elderly prelates whom the Italian papers have nicknamed “the 007 cardinals.”

Pope Benedict met today with Cardinals Julian Herranz of Spain, Jozef Tomko of Slovakia, and Salvatore De Giorgi of Sicily in a private audience.

According to the Vatican, the pope thanked them for their work and expressed satisfaction with their investigation.

“Their work made it possible to detect, given the limitations and imperfections of the human factor of every institution, the generosity and dedication of those who work with uprightness and generosity in the Holy See,” read a Vatican statement.

The Vatican statement pointedly added: “The Holy Father has decided that the acts of this investigation, known only to himself, remain solely at the disposition of the new pope.”

Many here had expected the investigating cardinals, who are too old to participate in the conclave, would brief the voting cardinals about their findings.

Today Vatican officials clarified the investigating cardinals will be free to discuss their investigation with the other cardinals, as the voting members of the conclave seek to understand the challenges the next pope will face.

But the dossier itself will remain “For the Pope’s Eyes Only.”

SHOWS: World News

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Italy election forecasts point to political gridlock

ROME (Reuters) - Conflicting early forecasts of the result of Italy's election on Monday raised the specter of deadlock in parliament that could paralyze a new government and re-ignite the euro zone crisis.

Officials from both centre and left warned that such gridlock could make Italy ungovernable and force new elections.

Opinion polls have long pointed to the center-left of Pier Luigi Bersani winning the lower house, but projections from RAI state television showed Silvio Berlusconi's center right in front in the Senate - which has equal lawmaking power - but unable to form a majority.

RAI showed the center-left well short of a majority in the Senate even in coalition with Monti, who was seen slumping to only 19 out of 315 elected Senators against a massive 65 for the anti-establishment 5-Star Movement of comedian Beppe Grillo.

Senate votes are counted before the lower house.

The latest projections ran counter to earlier telephone polls that showed the center left taking a strong lead in the Senate as well as the lower house.

Italian financial markets took fright after rising earlier on hopes for a stable and strong center-left led government, probably backed by outgoing technocrat premier Mario Monti.

Such government is seen by investors as the best guarantee of measures to combat a deep recession and stagnant growth in the euro zone's third largest economy, which is pivotal to stability in the currency union.

Berlusconi's declared aim is to win enough power in the Senate to paralyze a center-left administration.

The benchmark spread between Italian 10-year bonds and their German equivalent widened from below 260 basis points to above 280 and the Italian share index lost all its previous gains.

"These projections suggest that we are heading for an ungovernable situation", said Mario Secchi, a candidate for Monti's centrist movement.

Stefano Fassina, chief economic official for Bersani's center-left, said: "The scenario from the projections we have seen so far suggest there will be no stable government and we would need to return to the polls."

The earlier telephone polls on Sky and Rai television after voting ended at 3 p.m. (1400 GMT/9 a.m. ET) had shown the center left 5-6 points ahead of the center right in both Senate and lower house, with Grillo taking third place.

Adding to the confusion, official results from more than 50 percent of polling stations showed the center-left ahead with 32.7 percent against 29.5 for the center-right in the Senate race. The partial official count is often not representative because of the order in which votes are counted regionally.

Italy's electoral laws guarantee a strong majority in the lower house to the party or coalition that wins the biggest share of the national vote.

However the Senate, elected on a region-by-region basis, is more complicated and the result will turn on four key battleground regions. Projections from LA 7 showed Berlusconi winning in three of them: Lombardy, Sicily and Campania.

A Sky television projection showed him strongly ahead in the rich northern region Lombardy, which returns the largest number of Senators, with 38.8 percent against 27.6 for the center left.

BITTER CAMPAIGN

A bitter campaign, fought largely over economic issues, has made some investors fear a return of the kind of debt crisis that took the euro zone close to disaster and brought the technocrat Monti to office, replacing the scandal-plagued Berlusconi, in 2011.

Monti helped save Italy from a debt crisis when Rome's borrowing costs were spiraling out of control, but the polls and projections suggested few Italians now see him as the savior of the country, in its longest recession for 20 years.

A surge in protest votes for Grillo's 5-Star Movement had raised uncertainty about the chances of a stable government that could fend off the danger of a renewed euro zone crisis.

Grillo's movement rode a huge wave of voter anger about both the pain of Monti's austerity program and a string of political and corporate scandals. It had particular appeal for a frustrated younger generation shut out of full-time jobs.

"I'm sick of the scandals and the stealing," said Paolo Gentile, a 49-year-old Rome lawyer who voted for 5-Star.

"We need some young, new people in parliament, not the old parties that are totally discredited."

Bad weather, including heavy snow in some areas, was thought to have hampered the turnout in Italy's first post-war election to be held in winter. This could have favored the center left, whose voters tend to be more committed than those on the right, which has strong support among older people.

Berlusconi, a 76-year-old media tycoon, pledged sweeping tax cuts and accused Monti of being a puppet of German Chancellor Angela Merkel in a media blitz that halved the lead of the center left in opinion polls since the start of the year.

Whatever government emerges will inherit an economy that has been stagnant for much of the past two decades and problems ranging from record youth unemployment to a dysfunctional justice system and a bloated public sector.

(Additional reporting by Stefano Bernabei, Steve Scherer, Gavin Jones and Giuseppe Fonte in Rome and Lisa Jucca in Milan; Writing by Barry Moody; Editing by Robin Pomeroy and Philippa Fletcher)

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Crédit Agricole could cut 1,400 jobs: report

PARIS: French bank Credit Agricole could cut another 1,400 jobs in 2013 at its regional branches, the daily Les Echos said Monday, but unions said no figures had yet been decided.

Citing an internal document, the business daily said that Credit Agricole's regional branches expected only half of departing employees would be replaced in 2013, leading to a staff cut of 1,418 posts.

The bank declined to comment when contacted by AFP.

A union representative confirmed the figures to AFP, but said they were based on projections made in November and were likely to change.

Last week Credit Agricole posted a record 6.5 billion euro ($8.6 billion) loss for 2012, and said it would be launching a three-year strategic plan aimed at saving 650 million euros.

The bank, which shed 2,300 jobs last year, did not say how many jobs would go under the new cost-savings initiative.

The head of human resources for Credit Agricole's regional branches, Camille Beraud, told Les Echos that was as yet no job cuts strategy for the entire bank group.

-AFP/ac

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No permission for Ramdev's rally in Himachal Pradesh

SHIMLA: The plan of Yoga teacher Ramdev to hold a rally in Solan district today received a setback after district administration refused to give permission for the February 27 meeting.

"We had changed the venue from Sadhupul to Solan and assured that the rally would be completely peaceful, but surprisingly, the MC Solan has declined to give permission for holding the rally at Thodo ground on February 27 as scheduled," Laxmi Dutt Sharma, state in-charge of Patanjali Yogpeeth said.

Even a private body which had committed to give its hall also backed out.

Sharma alleged that it was "obviously due the pressure from the state government that the hall owner backed out from his promise."

Solan MC turned down our request for Thodo ground and today Murari market management committee also said no to the trust after having agreed to facilitate the function at its hall and now we may have to hold the meeting at Sanatan Dharamsabha hall at Solan, he said.

He said it is astonishing that the government has turned so hostile towards us and inspite of the fact that as per the statement of chief secretary that there was no official ban on the entry of Ramdev, the administration was bent on creating conditions wherein no place would be available for holding the rally not even "indoor meeting", the in-charge said.

Meanwhile, chief minister Virbhadra Singh, before leaving for Delhi said, "Ramdev is welcome to Himachal Pradesh and government treats him as a respected yoga guru but now the land given to him has been taken over by the government after the cabinet cancelled the lease, Ramdev or his men would not be allowed to create any law and order situation.

Singh said that the government has given orders to the local administration to maintain law and order and not interfere with function of yoga guru.

On February 22, the Himachal authorities, in a swift but peaceful move, had taken over the land given to Ramdev's trust Patanjali Yogpeeth by the previous BJP regime, three days after the state government decided to cancel its lease.

BJP had yesterday said that the party will support any stir by the yoga teacher against the cancellation of the land lease.

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FDA approves new targeted breast cancer drug

WASHINGTON (AP) — The Food and Drug Administration has approved a first-of-a-kind breast cancer medication that targets tumor cells while sparing healthy ones.

The drug Kadcyla from Roche combines the established drug Herceptin with a powerful chemotherapy drug and a third chemical linking the medicines together. The chemical keeps the cocktail intact until it binds to a cancer cell, delivering a potent dose of anti-tumor poison.

Cancer researchers say the drug is an important step forward because it delivers more medication while reducing the unpleasant side effects of chemotherapy.

"This antibody goes seeking out the tumor cells, gets internalized and then explodes them from within. So it's very kind and gentle on the patients — there's no hair loss, no nausea, no vomiting," said Dr. Melody Cobleigh of Rush University Medical Center. "It's a revolutionary way of treating cancer."

Cobleigh helped conduct the key studies of the drug at the Chicago facility.

The FDA approved the new treatment for about 20 percent of breast cancer patients with a form of the disease that is typically more aggressive and less responsive to hormone therapy. These patients have tumors that overproduce a protein known as HER-2. Breast cancer is the second most deadly form of cancer in U.S. women, and is expected to kill more than 39,000 Americans this year, according to the National Cancer Institute.

The approval will help Roche's Genentech unit build on the blockbuster success of Herceptin, which has long dominated the breast cancer marketplace. The drug had sales of roughly $6 billion last year.

Genentech said Friday that Kadcyla will cost $9,800 per month, compared to $4,500 per month for regular Herceptin. The company estimates a full course of Kadcyla, about nine months of medicine, will cost $94,000.

FDA scientists said they approved the drug based on company studies showing Kadcyla delayed the progression of breast cancer by several months. Researchers reported last year that patients treated with the drug lived 9.6 months before death or the spread of their disease, compared with a little more than six months for patients treated with two other standard drugs, Tykerb and Xeloda.

Overall, patients taking Kadcyla lived about 2.6 years, compared with 2 years for patients taking the other drugs.

FDA specifically approved the drug for patients with advanced breast cancer who have already been treated with Herceptin and taxane, a widely used chemotherapy drug. Doctors are not required to follow FDA prescribing guidelines, and cancer researchers say the drug could have great potential in patients with earlier forms of breast cancer

Kadcyla will carry a boxed warning, the most severe type, alerting doctors and patients that the drug can cause liver toxicity, heart problems and potentially death. The drug can also cause severe birth defects and should not be used by pregnant women.

Kadcyla was developed by South San Francisco-based Genentech using drug-binding technology licensed from Waltham, Mass.-based ImmunoGen. The company developed the chemical that keeps the drug cocktail together and is scheduled to receive a $10.5 million payment from Genentech on the FDA decision. The company will also receive additional royalties on the drug's sales.

Shares of ImmunoGen Inc. rose 2 cents to $14.32 in afternoon trading. The stock has ttraded in a 52-wek range of $10.85 to $18.10.

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Pistorius' Brother Facing Own Homicide Trial

The attorney for Oscar Pistorius' family said today that the Olympian's brother is facing a culpable homicide charge relating to a 2008 road accident in which a motorcyclist was killed.

Carl Pistorius, who sat behind his younger brother, Oscar, every day at his bail hearing, will now face his own homicide trial for the accident five years ago, which his attorney, Kenny Oldwage, said he "deeply regrets."

Carl Pistorius is charged with culpable homicide, which refers to the unlawful negligent killing of another person. The charges were initially dropped, but were later reinstated, Oldwage said in a statement.

Full Coverage: Oscar Pistorius Case

Pistorius quietly appeared in court on Thursday, one day before his Paralympic gold-medalist brother was released on bail, Oldwage said. His next appearance is scheduled for the end of March.

Liza van Deventer/Foto24/Gallo Images/Getty Images

'Blade Runner' Murder Charges: Oscar Pistorius Out on Bail Watch Video

Oscar Pistorius Granted Bail in Murder Case Watch Video

It was the latest twist in a case that has drawn international attention, after 26-year-old Oscar Pistorius, a double amputee who ran in both the 2012 Olympic and Paralympic games, was charged with the premeditated murder of his model girlfriend, Reeva Steenkamp.

On Saturday, Carl Pistorius' Twitter handle was hacked, according to a family spokeswoman, prompting the Pistorius family to cancel their social media accounts.

Steenkamp's parents speak about the Valentine's Day shooting that ended their daughter's life in a sit-down interview on South African television tonight.

On Saturday, the model's father, Barry Steenkamp, told the Afrikaans-language Beeld newspaper that Pistorius will have to "live with his conscience" and will "suffer" if his story that he shot Steenkamp because he believed she was an intruder is false.

RELATED: Oscar Pistorius Case: Key Elements to the Murder Investigation

After a four-day long bail hearing, Pistorius was granted bail Friday by a South African magistrate.

The court set bail at about $113,000 (1 million rand) and June 4 as the date for Pistorius' next court appearance.

Pistoriuis is believed to be staying at his uncle's house as he awaits trial. As part of his bail conditions, Pistorius must give up all his guns, he cannot drink alcohol or return to the home where the shooting occurred, and he must check in with a police department twice a week.

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Football: Man City leave Chelsea trailing, Newcastle edge Saints

LONDON: Manchester City galvanised their grip on second place in the Premier League and trimmed Manchester United's lead back to 12 points with a 2-0 victory at home to nearest rivals Chelsea on Sunday.

After Chelsea's Frank Lampard had seen a penalty saved by England colleague Joe Hart, City prevailed through a pair of fine second-half goals from man-of-the-match Yaya Toure and substitute Carlos Tevez.

Although City's chances of retaining their league title remain decidedly slender, they now have a seven-point advantage over Chelsea, who could slip to fourth if Tottenham Hotspur overcome West Ham United on Monday.

Both City manager Roberto Mancini and his Chelsea counterpart Rafael Benitez flooded their sides with midfielders at the Etihad Stadium, while Benitez opted to leave John Terry and Fernando Torres on the bench.

City deployed Sergio Aguero as a lone striker and although he had to plough a lone furrow, it was the hosts who dominated the first half.

Visiting goalkeeper Petr Cech had to tip a header from Matija Nastasic over the bar, while Gary Cahill did well to block a goal-bound volley from Pablo Zabaleta.

City handed a rare start to Jack Rodwell and the midfielder threatened twice shortly before half-time, extending Cech with first a 25-yard drive and then a header from the resulting corner.

Chelsea were gifted an opportunity to open the scoring early in the second half when Hart was adjudged to have fouled Demba Ba, but the England goalkeeper redeemed himself with an excellent save from Lampard's spot-kick.

Aguero dinked a shot onto the roof of the net before City's enterprise finally told in the 63rd minute.

Toure collected a pass from David Silva and deftly evaded the attentions of four visiting defenders before shaping a shot around Cech that nestled in the bottom-right corner.

Tevez settled the encounter in style in the 85th minute, collecting the ball 22 yards from goal and arrowing a shot into the top-left corner.

In the day's other game, Newcastle edged relegation rivals Southampton 4-2 in a topsy-turvy game at St James' Park that took Alan Pardew's side six points clear of the bottom three.

In honour of their growing French contingent, Newcastle had dubbed the day 'French Day', handing out berets to their supporters and playing the French national anthem prior to kick-off.

However, it was a Frenchman in a red shirt who broke the deadlock, as midfielder Morgan Schneiderlin converted a Rickie Lambert knockdown to give Southampton a third-minute lead.

Newcastle's reaction was swift and in the 32nd minute they went ahead thanks to two French players of their own.

Yoan Gouffran forced a save from Artur Boruc after darting into the box from the left and when the ball ran across goal, Moussa Sissoko sped in to touch it over the line.

The hosts' momentum did not abate and in the 42nd minute they went ahead with a stunning goal, as Papiss Cisse cracked home a looping half-volley from 25 yards.

Newcastle lost captain Fabricio Coloccini to injury just before half-time and saw Southampton equalise five minutes into the second half when Lambert swept home a low cross from Adam Lallana.

However, Newcastle hit back once again and took the lead for the second time in the game when Yohan Cabaye converted a 67th-minute penalty awarded for a handball by Danny Fox.

The suspense in a stretched game finally dissipated in the 79th minute, when an own goal by Jos Hooiveld put Newcastle 4-2 ahead and confirmed the hosts' success.

- AFP/fa

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Polls: Meghalaya, Nagaland witness high voter turnout

DIMAPUR/SHILLONG: Despite a boycott call by a militant outfit, Meghalaya saw a high turnout of over 85 per cent voters in the assembly polls on Saturday. In Nagaland, the other northeastern state to go to the polls along with Meghalaya, more than 83 per cent of the electorate cast their votes.

Defying the 36-hour bandh called by the Hynniewtrep National Liberation Council (HNLC) to keep people away from voting, a large number of voters turned up to cast their votes since morning. The HNLC, an underground outfit, has been fighting for a separate Garoland for a long time. "Polling was peaceful across the state," said Meghalaya CEO Prashant Kumar Naik. There were 345 candidates for the 60-member assembly. Compared to the Khasi and Jaintia Hills, the turnout was low in Garo Hills. The BSF had sealed Meghalaya's borders with Bangladesh to ensure peaceful polling.

Incumbent chief minister Mukul Sangma (Congress) cast his vote in Ampatigiri constituency of the Garo Hills from where he is seeking reelection. Opposition leader and contender for the CM's post, Conrad Sangma, is fighting on a National People's Party ticket from Selsella constituency. He is the son of NPP founder and former Lok Sabha speaker PA Sangma.

Meghalaya, a matrilineal state, saw more women than men waiting to cast their votes at the state's 2,485 booths. In stark contrast, the number of women contestants was just 25. Last time, only one woman had been able to win the election.

In Nagaland, voting was by and large smooth even though reports of violence poured in from different areas. Polling in one constituency was deferred because of the death of a Congress candidate. There are 60 seats in the Nagaland assembly.

"Polling was by and large peaceful in the state," said Nagaland chief electoral officer (CEO) J Alam. Voters turned up at poll stations about an hour before voting began at 7 am. In Dimapur, the state's commercial hub, miscreants opened fire in the air to disrupt polling at the Nagarjan Higher Secondary School booth. A similar incident took place at the nearby Mao Colony, too. Security personnel intensified patrolling in the Nagarjan area.

At Singrijan, 14 vehicles were damaged during a clash between Congress and Naga People's Front (NPF) supporters. Two persons have sustained bullet injuries.

There were also reports of minor scuffles between political activists at some places.

Chief minister Neiphiu Rio (NPF), who is eyeing a third consecutive win, cast his vote at the Tuophema Base booth in Northern Angami II constituency. "NPF is confident of crossing the halfway mark on its own. We will form the next government in collaboration with the BJP and the JD(U)," he said. Speaking on similar lines, Tokheho Yepthomi, Congress's candidate from Dimapur-III constituency, said, "We will emerge as the single largest party and form the next government along with other parties."

Repolling has been ordered in atleast three Nagaland booths following reports of damage to EVMs.

Election Commission officials said the percentage of voting might go up in the two states as reports from many remote booths were yet to arrive.

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FDA approves new targeted breast cancer drug

WASHINGTON (AP) — The Food and Drug Administration has approved a first-of-a-kind breast cancer medication that targets tumor cells while sparing healthy ones.

The drug Kadcyla from Roche combines the established drug Herceptin with a powerful chemotherapy drug and a third chemical linking the medicines together. The chemical keeps the cocktail intact until it binds to a cancer cell, delivering a potent dose of anti-tumor poison.

Cancer researchers say the drug is an important step forward because it delivers more medication while reducing the unpleasant side effects of chemotherapy.

"This antibody goes seeking out the tumor cells, gets internalized and then explodes them from within. So it's very kind and gentle on the patients — there's no hair loss, no nausea, no vomiting," said Dr. Melody Cobleigh of Rush University Medical Center. "It's a revolutionary way of treating cancer."

Cobleigh helped conduct the key studies of the drug at the Chicago facility.

The FDA approved the new treatment for about 20 percent of breast cancer patients with a form of the disease that is typically more aggressive and less responsive to hormone therapy. These patients have tumors that overproduce a protein known as HER-2. Breast cancer is the second most deadly form of cancer in U.S. women, and is expected to kill more than 39,000 Americans this year, according to the National Cancer Institute.

The approval will help Roche's Genentech unit build on the blockbuster success of Herceptin, which has long dominated the breast cancer marketplace. The drug had sales of roughly $6 billion last year.

Genentech said Friday that Kadcyla will cost $9,800 per month, compared to $4,500 per month for regular Herceptin. The company estimates a full course of Kadcyla, about nine months of medicine, will cost $94,000.

FDA scientists said they approved the drug based on company studies showing Kadcyla delayed the progression of breast cancer by several months. Researchers reported last year that patients treated with the drug lived 9.6 months before death or the spread of their disease, compared with a little more than six months for patients treated with two other standard drugs, Tykerb and Xeloda.

Overall, patients taking Kadcyla lived about 2.6 years, compared with 2 years for patients taking the other drugs.

FDA specifically approved the drug for patients with advanced breast cancer who have already been treated with Herceptin and taxane, a widely used chemotherapy drug. Doctors are not required to follow FDA prescribing guidelines, and cancer researchers say the drug could have great potential in patients with earlier forms of breast cancer

Kadcyla will carry a boxed warning, the most severe type, alerting doctors and patients that the drug can cause liver toxicity, heart problems and potentially death. The drug can also cause severe birth defects and should not be used by pregnant women.

Kadcyla was developed by South San Francisco-based Genentech using drug-binding technology licensed from Waltham, Mass.-based ImmunoGen. The company developed the chemical that keeps the drug cocktail together and is scheduled to receive a $10.5 million payment from Genentech on the FDA decision. The company will also receive additional royalties on the drug's sales.

Shares of ImmunoGen Inc. rose 2 cents to $14.32 in afternoon trading. The stock has ttraded in a 52-wek range of $10.85 to $18.10.

Read More..