SWITZERLAND'S ROCHE TO LAUNCH AVASTIN CANCER DRUG IN EUROPE

Swiss drug major Roche has reportedly received EU approval for its new colon cancer drug Avastin. The drug, which was approved by the US FDA early last year, counteracts the disease by restricting blood flow to tumours. A European approval recommendation for the treatment was issued in October last year, and the product is expected to launch in the next few weeks.

Avastin is manufactured in the US by California-based drugmaker Genentech, although Roche is to invest some CHF400mn (US$338.46mn) on a new plant in Switzerland to produce the drug by 2009. The treatment, which costs roughly US$44,000 for a 10-month treatment course, had US sales of some US$200mn in the fourth quarter. Roche, meanwhile, hopes that that the potential blockbuster will almost double its annual sales to some CHF10bn (US$8.46bn). The two companies are also studying the drug's potential applications in other major cancers.