OSI Pharmaceuticals and its partner Genentech Inc, with whom the former shares the revenue from Tarceva, were pleased with the results. Colin Goddard, OSI's chief executive officer was glad with the news and asserted that Tarceva was the company’s core asset and major source of revenue.
"Overall the headline news is encouraging and opens a new treatment option for advanced lung cancerdefine patients," said Vontobel analyst Andrew Weiss.
Saturn was undertaken by Roche Holding of Switzerland, another stake holder in Tarceva. For the purpose of the study 889 patients were registered at 160 sites worldwide.
The patients were given a daily dose of either Tarceva or an alternative placebo after four rounds of chemotherapy. Tarceva blocked the spread of advanced non-small cell lung cancer, researchers found. The detailed results of the study would be presented at a forthcoming medical conference.
Colin added that there is still a long way to go with regard to the treatment of lung cancer. He said, "With all of the progress we've made, we still have a long way to go, but this is a good step. And we definitely need steps forward."
Genentech, Roche and OSI intend to seek U.S. sanction for the potential use of Tarceva as an early treatment. The approval may be sought as early as in the first half of 2009 as the drug is likely to augment revenues big time.
Alimta, a drug made by Eli Lilly & Co., has already been approved for lung cancer treatment. So who wins in the Tarceva versus Alimta contest is likely to be ascertained in the near future.
Meanwhile, the OSI stock was accorded an "outperform" rating by the BMO Capital Markets in Manhattan. OSI rose to $40.65, up 15 percent.
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