Me wonders about the price tag of $100,000.00US per person on Hercepetin, a breast cancer drug that is sucking up a lot of ink in the news these days.
My questions include: How come so expensive? Is the drug made of something rare and near extinction? Or do obscene amounts of PROFIT come before human health?
Then this media release crossed my screen.
SAN FRANCISCO, Calif., July 1 /CNW/ -- "Heading into the summer,biotech widely outperformed the Dow and NASDAQ on a year-to-date basis," said G. Steven Burrill, CEO of Burrill & Company, a San Francisco based global leader in life sciences with principal activities in Venture Capital, Merchant Banking and Media. "Yet, when you drill down into the data, this positive performance is not reflective of an 'across the board' trend but attributable to only a handful of companies driving the market.
"There were enough companies that posted stellar gains to keep most of the indices in positive territory," Burrill added. "Topping this list was Genentech. Thanks to some excellent late-stage clinical results on its Avastin and Herceptin cancer drugs and expectations for Lucentis, the company posted a 27% rise in its share price in April and 12% in May.
Genentech now ranks as the seventh largest pharmaceutical company by market cap that stood at $84.8 billion at quarter end," stated Burrill.
Read the entire
release here.
Now then, does this seem right to you?
Sue Richards
Publisher of the Number One Breast Health Calendar in the world
