New Lung Cancer Drug Tarceva May Prolong Life

Results of a late-stage clinical trial of Tarceva, an experimental drug used to treat lung cancer were reported today. The news could be good: this treatment may increase the life expectancy of lung cancer patients by as much as a third.

Tarceva is being developed by OSI Pharmaceuticals Inc, Genentech, Inc, and Roche Holding AG. When the news broke today, company stocks shot up. OSI shares rose $52.96, or 138.9 percent, to close at $91.10 on Nasdaq. Genentech shares rose $13.77, or 11.7 percent, to end the day at $131.99 on the New York Stock Exchange. Read more...