FDA Approves Genentech Drug as a Weapon for Fighting Breast Cancer

(NewsVisual, powered by IntellectSpace) -- The San Francisco-based biotechnology company Genentech Inc (NYSE: DNA) announced on Friday that the U.S. Food and Drug Administration (FDA) granted accelerated approval for one of its drugs to be used metastatic breast cancer.

The FDA’s approval means that the company’s drug Avastin can be used in combination along with another drug named Paclitaxel.

"There is no cure for metastatic breast cancer; so it is important to control the disease as early and for as long as possible," said Kathy Miller MD, Associate Professor of Medical Oncology, Indiana University School of Medicine and the lead investigator on the E2100 trial.

"Now with Avastin plus paclitaxel, we can increase the time a woman's cancer is kept under control, and offer a biologic option to women who previously were limited to chemotherapies alone," she added.

The markets were already closed when Genentech’s statement was released.  In Friday trading, the company’s share price was down from the previous close of $71.75 to $71.60 at the bell (4:07pm ET).

The company’s share price, however, skyrocketed up in after-hours trading to $77.12 (6:04pm ET).

NewsVisual created an IntellectSpace Knowledge Map of the Genentech’s Board of Directors in order to determine whether they are likely to be able to offer its Management Team sagacious business advice on how to market new oncology products.

The Knowledge Map shows that all of the company’s Directors serve on at least one other corporate board.

Genentech CEO/Chairman Arthur D Levinson also serves on the boards of Apple Computer Inc and Google Inc, which are two companies that are famous for their marketing prowess.

The following Genentech Directors, however, have strong personal ties to other companies in the pharmaceutical and biotechnology industries:

Director Charles A Sanders, a former CEO/Chairman of Glaxo Inc, also currently serves on the boards of four companies, including Vertex Pharmaceuticals, Biopure Corp, Cephalon Inc, and Icagen Inc.

In addition, Genentech Directors Eric Hunziker, William M Burns, and Jonathan K.C. Knowles also currently serve in Senior Executive positions and as Directors for The Roche Group, as well as Directors for its subsidiary Chugai Pharmaceutical Co.

Click here for an interactive version of this IntellectSpace Knowledge Map.

(Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).