FDA has approved a new colon and rectal cancer drug, Vectibix, and the manufacturer, Amgen has promised to cap the cost for patients who need the drug but cannot afford it.

As reported in the San Franciscio Chronicle, “The Food and Drug Administration said Wednesday that it has approved a new colon cancer drug, Vectibix, developed by Amgen and Abgenix, the Fremont company it recently acquired.

Vectibix, a monoclonal antibody with the generic name panitumumab, is rated by analysts as a potential blockbuster drug that will compete with Erbitux, which was developed by ImClone Systems.

Both drugs target the same cancer cell receptor, EGFR, which has been tied to tumor growth. The FDA estimates that 150,000 new cases of colon and rectal cancer will be diagnosed in 2006, with 55,000 deaths caused by the disease. About 70 percent of those cancers have tested positive for EGFR.”

More at San Francisco Chronicle

Also on Sept 27 Amgen released this statement:

Amgen Introduces Comprehensive Financial Assistance Programs for Cancer Patients

THOUSAND OAKS, Calif.–(BUSINESS WIRE)–Sept. 27, 2006–Amgen (NASDAQ:AMGN) today announced Amgen(TM) Oncology Assistance (AOA), a comprehensive, multi-faceted financial assistance program that will include a “cap” on out-of-pocket co-payments for cancer patients receiving Vectibix(TM) (panitumumab). Through AOA, patients who are uninsured, underinsured, or unable to afford their insurance co-payments will receive help obtaining financial support for Amgen’s cancer medicines.

“We recognize that treating cancer is expensive and our industry needs to find new ways to ease the financial burden on cancer patients, their families and society,” said Kevin Sharer, chairman and chief executive officer at Amgen. “Our goal is to create the most comprehensive oncology access program in the industry, and we are starting with Amgen Oncology Assistance. To ensure patients have access to Vectibix, we have priced it at approximately 20 percent less than the other antibody on the market and created the Vectibix Cap, which is the first of its kind for colorectal cancer patients.”

The AOA program will be available for U.S. cancer patients and will launch in October. AOA will expand and consolidate the company’s existing financial assistance programs into a simplified package with a single gateway:

– The new Vectibix Cap will limit total patient co-payments for Vectibix in the United States, regardless of income or insurance status. Once a patient reaches the cap (five percent of their adjusted gross income), he or she will become eligible for the SAFETY NET(R) Foundation.

– The SAFETY NET Foundation is a well-established patient assistance program that provides Amgen oncology medicines at no cost to qualifying uninsured patients. Available to patients with household adjusted gross incomes of up to $75,000 per year, The SAFETY NET Foundation is one of the most generous oncology product donation programs in the industry.

– Amgen also donates millions of dollars to independent third-party administered patient assistance programs to help reduce the financial burden for uninsured or low-income patients.
Full statement and disclaimer at amgen.com

See also:FDA Approves Vectibix(TM) to Treat Patients with Metastatic Colorectal Cancer